Nuclear Power Corporation of India (NPCIL) and power generation giant, NTPC have agreed to join hands for a new nuclear energy venture.
"NTPC board has approved the formation of a joint venture company with Nuclear Power Corporation of India Ltd (NPCIL) to set up a nuclear power project," company said in a statement to the Bombay Stock Exchange.
NTPC would hold 49 per cent of the stake in the joint venture company and 51 per cent would be held by NPCIL. The company plans to raise up to Rs 4,500 crore from domestic as well as international markets for meeting its expansion plans in the current financial year.
From steam turbines to high-technology reactors, India’s power sector companies are set to reap a bonanza after the passage of the India-US civilian nuclear deal.
Companies like BHEL, NTPC and Tata Power and Larsen and Toubro (L&T) are looking at a raft of high-value contracts and joint ventures after the operationalisation of the Indo-US civilian nuclear deal.
According to the World Nuclear Association, as of 2007 there are 32 reactors under construction, with 18 of the 32 reactors being constructed in Asia.
India currently has 17 nuclear power plants, all run by government-owned Nuclear Power Corporation of India (NPCIL) with a total capacity 4,120 mw in operation. Sources, who did not wish to be identified said, another 16 nuclear power plants are in various stages of planning.
NPCIL pulling all stops to commission four new projects and has sent a status report of its ongoing four projects across Rajasthan, Karnataka and Tamil Nadu that would produce an additional 3160 mw.
NPCIL officials are hopeful of faster and easier fuel supplies for these power plants from uranium rich countries.