N-powering Indian companies

N-powering Indian companies
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First Published: Tue, Sep 09 2008. 11 02 PM IST
Updated: Wed, Sep 10 2008. 10 15 AM IST
New Delhi: Days after the Nuclear Suppliers Group gave its approval for the Indo-US nuclear deal, Indian companies have started gearing up to reap the business opportunities the pact will open up. Forty domestic companies, including the Videocon group, Jindal Power and Tata Power are trying to convince the central government to allow private participation in generation of civil nuclear energy. They have also asked the prime minister to amend laws to facilitate entry of private players in nuclear power generation.
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Former Assocham president and Videocon chief Venugopal N Dhoot said, “These 40 companies have already started negotiations with the government and their foreign counterparts.”
India’s entry into the nuclear commerce fraternity has prompted business groups from both the US and Europe to seek deeper trade relationships. It is expected that the nuclear agreement with the US would allow India to generate 40,000 megawatts of nuclear power by 2020. Global nuclear power majors, such as General Electric, Westinghouse, Areva and Rosatom, are expected to relaunch talks for manufacturing and supply of nuclear power equipment with the government. They would also initiate parallel negotiations with the state-owned Nuclear Power Corp of India for supplying nuclear fuel and technology to the existing power plants and upcoming projects.
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First Published: Tue, Sep 09 2008. 11 02 PM IST