Government cautious on West-discarded nuclear technology: Piyush Goyal

By: |
New Delhi | Published: November 6, 2014 3:04:43 PM

As government charts out a multi- pronged growth agenda for power sector...

As government charts out a multi- pronged growth agenda for power sector, it is cautious about not being saddled with technology discarded by West in the name of nuclear energy, Union Minister Piyush Goyal said today.

Sounding a cautious note on nuclear power, Goyal said that the US and many European countries have discontinued installation of nuclear plants.

“This government would like to be cautious that we are not being saddled with something only under the garb of clean energy or alternate energy; something which the West has discarded and is sought to be brought to India,” he said while speaking at India Economic Summit.

He added that he has yet to determine the life-cycle costs of nuclear power right through to decommissioning.

The Minister predicted a “huge investment opportunity” of nearly USD 250 billion in the energy sector over the next four to five years, including USD 100 billion in renewables and USD 50 billion in transmission and distribution.

“This government is sincere in giving power to all and this government will protect investments as we go forward,” he said.

“I hear that US and Europe are also not developing new nuclear power plants. We are cautious about it as we don’t want to be saddled with an old asset in the garb of alternate energy,” he added.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition