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GE to work with India for cost-effective nuclear energy

Global Energy major General Electric Hitachi said it remains committed to working with India to help it realise the tremendous potential of clean, safe and cost-effective nuclear energy.

business Updated: Nov 11, 2010 19:47 IST

Global Energy major General Electric Hitachi(GEH) said it remains committed to working with India to help it realise the tremendous potential of clean, safe and cost-effective nuclear energy.

Congratulating Prime Minister Manmohan Singh and US President Barack Obama, senior vice president of nuclear plant projects at the GE unit, Daniel L Roderick, told PTI, "We appreciate the efforts of both governments (America and India) to establish a basis for civil nuclear cooperation and the path forward set forth in the joint statement." "GEH is committed to working with India to help it realise the tremendous potential of clean, safe and cost-effective nuclear energy," Roderick said.

Meanwhile, veteran US nuclear businessmen are of the opinion that negotiations with GEH and Westinghouse-Toshiba will now begin in earnest.

"Both GEH and Westinghouse tried their best to go for a 'perfect deal'(change the Indian Civil Liability Law) before Obama's India visit, but now they know that it did not happen and will not happen," they said.

"With that grounded reality they will try to get the next best closure with Nuclear Power Corporation of India Limited (NPCIL) and the Department of Atomic Energy (DAE)," they said adding eventually the deal will be made but it may take at least two years looking at the negotiations with the French company AREVA.