Chicago Bridge & Iron
) announced that it has received a contract valued at $35 million
from the U.S. Army Corps of Engineers, Baltimore District. The
scope of the contract requires CBI to decommission, dismantle and
dispose of the MH-1A nuclear reactor, installed on the STURGIS
The reactor, which was last operated in Jul 1976, has already
been de-fueled, decontaminated and sealed and is currently
anchored at the James River Reserve Fleet. Prior to it being shut
down, the nuclear reactor was primarily used for electricity
CBI has a proven track record of successfully managing wastes
of all types, including radioactive, mixed, hazardous and
sanitary. The company's primary clients in this segment are
federal, state and local regulators who ensure safety and
compliance in the handling, processing, treating, transporting
and disposal of these wastes. Prior to this, CBI has disposed
millions of tons of radioactive wastes from several U.S.
Department of Energy nuclear weapons sites.
The nuclear plant vessel MH-1A - STURGIS will be relocated to
Galveston, TX, by Sep 2014, for decommissioning, per the plan.
After the radioactive waste materials are disposed, the vessel
will be transported to Brownsville, TX, for disposal or recycling
as scrap using standard ship breaking methods.
The Nuclear Regulatory Commission has strict rules governing
nuclear power plant decommissioning, involving cleanup of
radioactively contaminated plant systems and structures, and
removal of the radioactive fuel. All companies looking to dispose
their radioactive wastes have to strictly adhere to the
According to World Nuclear Association, to date, about 100
mines, more than 100 commercial power reactors, 46 experimental
or prototype reactors, over 250 research reactors and a number of
fuel cycle facilities have been retired from operation. Some of
these have been fully dismantled.
CBI is a comprehensive energy infrastructure company and a
major provider of government services. CBI provides a wide range
of services including design, engineering, construction,
fabrication, maintenance and environmental services.
CBI currently has a Zacks Rank #3 (Hold). Some better-ranked
stocks in the sector include
) having a Zacks Rank #1 (Strong Buy),
India Globalization Capital, Inc (
Quanta Services Inc
), both having a Zacks Rank #2 (Buy).
CHICAGO BRIDGE (CBI): Free Stock Analysis
INDIA GLOBALIZ (IGC): Get Free Report
MASTEC INC (MTZ): Free Stock Analysis Report
QUANTA SERVICES (PWR): Free Stock Analysis
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