Indian industry see Rs1.2 trillion investment in nuclear power

Indian industry see Rs1.2 trillion investment in nuclear power
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First Published: Mon, Sep 08 2008. 11 42 AM IST
Updated: Mon, Sep 08 2008. 11 42 AM IST
New Delhi: Indian industry bodies expect 18-20 new nuclear power plants to be set up in next 15 years costing Rs1.2 trillion after a ban on nuclear trade with India was lifted by the Nuclear Suppliers Group.
On Saturday, the 45-nation approved a US proposal to lift a global ban on nuclear trade with India in a breakthrough towards sealing a controversial US-Indian atomic energy deal.
“The NSG clearance has now instilled confidence of business opportunities worth Rs1.2 trillion in the next 15 years, which would add about 18-20 nuclear reactors at the cost of Rs5,000 to 6,000 crores each,” the Confederation of Indian Industry said in a statement.
“The nuclear deal will also enable addition of new capacity and help fulfill the target of adding 63,000 MW by 2030,” it said.
The Federation of Indian Chambers of Commerce and Industry said the lifting of the ban would enable India to get nuclear fuel for all its nuclear reactors, which have been running at almost half the capacity.
“It will open the doors for foreign investments in the nuclear power generation and usher India into the world’s top Nuclear Club,” it said.
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First Published: Mon, Sep 08 2008. 11 42 AM IST