News Brief | February 2016
N-projects to get equity boost on NPCIL´s JV plans with PSUs
With the decks being cleared for state-owned Nuclear Power Corporation of India Ltd (NPCIL) to launch nuclear ventures in collaboration with at least three other public sector firms, the move could see the pooling of additional equity worth nearly `30,000 crore for expanding the country´s installed nuclear power capacity.
The Atomic Energy (Amendment) Act, one of the five legislations that got the President´s approval, will allow NPCIL to launch collaborations with other public sector utilities. Three venture with cash-rich state-owned energy utilities - NTPC Ltd, Indian Oil Corporation and Nalco - are already in the works.
The move comes amid festering concerns over India´s nuclear liability provisions holding up the deployment of imported light water reactor-based projects in collaboration with global vendors. The proposal by NPCIL to strike joint ventures with cash-rich PSUs is being seen as an alternative strategy to tide over the paucity of funds and ramp up execution capability for new projects using the indigenous pressurised heavy water reactor technology.