India can cash in on N-power amid financial crisis: Saran

Written by Political Bureau | New Delhi, Oct 21 | Updated: Oct 23 2008, 05:06am hrs
By opening up its nuclear power plants market, the current global financial crisis could work for Indias, said a top government official here on Tuesday.

In his address at a seminar on Civil Nuclear Deal: The Indian Opportunity, organised by the Ficci, Shyam Saran, the Prime Ministers special envoy on the India-US nuclear deal said: The current situation may be a blessing in disguise.

There has been a significant slowing down of sourcing of nuclear plants by the advanced countries, and there are signs of softening of the uranium market, said Saran. He added India now has a wide choice of suppliers and can source uranium from different countries.

With the NSG opening up the international market, India has a wide choice of suppliers and can source uranium for its 17 nuclear plants and their Plant Load Factor from the current 54% to 80 %. According to Dr Abhishek M Singhvi, MP and Chairman, India-US Forum of Parliamentarians, pointed out that now was the time to seize the opportunity for investment in Indias nuclear power progamme which would require an investment of $ 160 billion over the next 20 years.