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Japan’s Hitachi may invest in India nuclear sector

Japan’s Hitachi may invest in India nuclear sector
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First Published: Wed, Aug 22 2007. 07 01 PM IST
Updated: Wed, Aug 22 2007. 07 01 PM IST
PTI
New Delhi: When Indian political parties are struggling on whether the country should have civil nuclear energy pact with the US or not, the Japanese companies in the sector have shown keen interest to invest in nuclear power plants.
“The Japanese companies in the nuclear power generation are waiting for the outcome of India-US nuclear deal, and once there is international consensus over the issue, the Hitachi Group may invest in nuclear power sector,” said Kazuo Furukawa, president and CEO, Hitachi, on 22 August.
Talking to reporters on the sidelines of a function, he said, “we will consider,” on whether Hitachi could invest up to $1billion for nuclear power generation in India, once there is international consensus on the issue.
Furukawa is accompanying Japanese Prime Minister Shinzo Abe, who is on a three-day visit to India along with 200 strong business delegation.
Hitachi has been providing reactor pressure vessels, reactor containment vessels, and other equipment to nuclear power plants across the globe for 40 years.
Japan, a leader in nuclear power generation in Asia along with North Korea and China, has major companies such as Hitachi and Mitsubishi in this space.
He said nuclear energy was vital for power supply. “The US has already lost the technological edge for nuclear power plants. The world leaders in this technology now are Japan and France,” a senior Japanese official had said on the eve of a visit here by Japanese Prime Minister Shinzo Abe.
The US hasn’t built nuclear reactors in over 30 years, he said, but Japan had the technology to install the next generation of nuclear plants and was among the few countries where fresh nuclear plants have been built recently.
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First Published: Wed, Aug 22 2007. 07 01 PM IST