GMR Energy set to invest Rs10,000 crore in nuclear generation foray
12 Sep 2008
New Delhi: GMR Energy, a unit of GMR Infrastructure, is in talks with global nuclear equipment and fuel suppliers for a strategic partnership that will see it invest Rs10,000 crore in the nuclear power generation industry. Senior company officials have said that the company may set up a 2,000-3,000 MW nuclear power plant in the country over the next 5-7 years.
''We have held talks with equipment as well as fuel suppliers and will firm up a plan in the next one year,'' GMR Energy executive vice-president Avinash R Shah said.
According to Shah, the company is sourcing experienced personnel from state-owned Nuclear Power Corporation for its nuclear foray. These include former chairman and MD, MR Srinivasan.
''Right now it is at planning and preparation stage. In the next six months to one year, we should have a broad plan in place,'' Shah said.
As for the company's contacts with global suppliers, Shah said GMR was in talks with equipment and fuel suppliers in France, United States and Korea for the power plant. ''We may get a strategic partner (with nuclear technology) but I cannot say anything more now,'' he added.
According to Shah, it was likely that GMR Energy could list over the next year or two. Currently it has 800 MW of thermal power generating capacity.