Nuclear Power Corporation to invest $13 billion in 10 years

09 September 2008

Mumbai: The nuclear power sector will witness investments of over Rs60,000 crore (over 13 billion) over the next 10 years once the civil nuclear cooperation agreement with the US comes into force, J K Ghai, director, finance of state-run Nuclear Power Corporation, said.

The estimates include only planned investments by state-run Nuclear Power Corporation of India Ltd (NPCIL), the sole nuclear power generator in the country.

Several companies in the private sector, including GVK Power & Infrastructure Ltd, also plan to buy reactors and equipment from General Electric Co and Westinghouse Electric Co when the ban on India's nuclear trade is lifted.

Besides, scores of big and small manufacturers and sub-contractors are also planning to enter manufacturing of nuclear power equipment.

NPCIL proposes to more than double capacity from 4,200 MW to 10,000 MW in the next two years, J K Ghai, director, finance of NPCIL, said.

Once the nuclear pact with the US is through and amendments are made to India's Atomic Energy Act, nuclear power capacity in the country could hit 10,000 MW by 2018, he said, adding, this will translate into direct investment opportunities of Rs60,000 crore in ten years.