N-deal opens up investment possibilities worth $40 bn

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Nuclear energy to meet rising needs, says PM

Mumbai, Aug 12: The Indo-US civil nuclear deal has opened up the possibility of investments worth $40 billion over the next 15 years to step up nuclear power generation, with leading firms like White Westinghouse, General Electric, Rosatom and Siemens unveiling plans to do business with the country.

After nearly 33 years of nuclear isolation, India’s nuclear power generation capacity is expected to rise to 40,000 mw by 2025 with access to several 1,000 mw-plus advanced light water reactors and a committed fuel supply, and nuclear commerce is expected to go up to 40 billion dollars, Nuclear Power Corporation of India chairman S K Jain said.

“Once all the necessary steps are taken by India and the US and after getting a signal from the Nuclear Suppliers Group, India will get to do global nuclear commerce which will not only enhance the indigenous programme with imported fuel but also help accelerate nuclear power with imported power plants as an additionality,” Jain said.

As a spin-off of the Indo-US deal, Indian companies participating in the nuclear power programme and new players in the field like the Tatas, Reliance Energy, Birlas and Vedanta will benefit immensely as it is estimated that 50% of the total investments would benefit Indian industry, he said.

For new entrants like Tatas and Reliance, it may possibly take four to five years for them to participate fully once necessary amendments are made to the Atomic Energy Act, Jain said. Imported plants using light water reactors are likely to come up at Jaitapur in Maharashtra, Kudankulam in Tamil Nadu and other coastal sites that are being identified in states like Gujarat, Orissa and Andhra Pradesh, he said.