US firms keen on investing in Indian nuclear programme
Dated 30/11/2006
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A slew of American companies today indicated their keenness to invest over 50 billion dollars in India's nuclear programme once the civil nuclear deal between the two countries is approved by the US Congress.
The companies, participating in an Indo-US business meet here, showed strong interest in involving themselves in India's programme to hike nuclear power generation capacity to 50,000 MW by 2030.
State-owned Nuclear Power Corporation of India Limited, which runs nuclear projects generating around 3,400 MW, plans to add 20,000 MW by 2020.
The companies, which are involved in the construction of nuclear plants and fuel supply, are part of the first high-level US delegation led by Under Secretary for Commerce Franklin Lavin.
Though the firms claimed that the per unit tariff from privately owned nuclear plants would be quite cheap, their Indian counterparts contended it would be more than NPCIL's tariffs.
The US delegation, comprising companies like Westinghouse Electric, Transco Product Inc, BWXT, W M Mining, Fluor and Thorium Power, said the nurturing of bonds with Indian firms will lead to partnership, thereby enabling them to tap opportunities in nuclear energy.
Ron Somers, President of the US-India Business Council, told reporters the companies would discuss issues related to India's regulatory regime, particularly with state-run Nuclear Power Corporation of India and the Atomic Energy Commission, during meetings slated for Friday and Saturday.
The representatives will also meet former Foreign Secretary Shyam Saran, who is the special envoy for the Indo-US nuclear deal, next week.
