Foreign companies actively investing in Indian Nuclear sector

New Delhi [India], Aug 02 (ANI): Several foreign companies from various countries have shown interest in participating in the country's nuclear power projects in various capacities as technology partners, suppliers, contractors, service providers, and others including Westinghouse Electric Company (WEC) and GE-Hitachi, United States of America (USA), Electricite de France (EDF), France and Russia.

This was conveyed by Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances and Pensions, Atomic Energy and Space, Jitendra Singh in a written reply to a question in Lok Sabha on Wednesday.

As per the Foreign Direct Investment (FDI) Policy of the Government, FDI is not permitted in nuclear power sector. Thus, foreign companies cannot invest in nuclear power.

Nuclear power projects to be set up with foreign technical cooperation are planned to be funded by a mix of equity and debt, with equity to be mobilised from internal resources of Nuclear Power Corporation of India Limited (NPCIL), Joint Venture companies between NPCIL and other Central Public Sector Undertakings and Government budgetary support.

Foreign companies can however, invest in the supply chain for nuclear power projects.

The present tariffs of nuclear power range from Rs 1.07 per unit in case of the oldest nuclear power station, Tarapur Atomic Power Station (TAPS) - 1&2 at Tarapur, Maharashtra to Rs. 4.10 in case of the latest station, Kudankulam Nuclear Power Plant (KKNPP) -1&2 at Kudankulam, Tamil Nadu.

Nuclear power tariffs are comparable to those from other electricity generating plants (based on other technologies) located in the same area.

Every twin unit nuclear power station would generate a direct employment of about 850 comprising engineers, supervisors, technicians and other personnel.

In addition, indirect employment for thousands of people would be generated with suppliers, contractors, service providers and others.

The resultant increase in economic activity would also open up opportunities for various businesses and will result in further employment generation. (ANI)

This story has not been edited. It has been published as provided by ANI