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Our Bureau

Mumbai, Sept. 6 As the 45-nation Nuclear Suppliers Group (NSG) on Saturday took the landmark decision to adopt a US initiative to lift the 34-year old embargo on nuclear trade with India, domestic corporate houses that had been planning forays into the nuclear power business were quietly optimistic.

NSG’s decision in Vienna today, which is seen as a crucial step towards an Indo-US civil nuclear agreement, is expected to rev up efforts by these companies to get into the nuclear power space, mostly through tie-ups with global majors.

While foreign majors such as Areva of France, Westinghouse of the US, Atomstroyexport of Russia and GE of the US have been increasingly training their sights on India, domestic companies such as L&T and Tata Power had been engaged in talks with foreign companies for possible tie-ups.

Mr M.V. Kotwal, Senior Executive Vice-President - Heavy Engineering, Larsen and Toubro, told Business Line that it was good news for L&T, as it was well positioned to tap the potential in the nuclear power segment.

L&T has the capability to build thick-walled reactors for nuclear power stations, especially the main reactor vessels. The company also has the expertise in switchgear and control systems, which it has already supplied to the NPCIL’s Tarapur plant.

On the construction side, Mr Kotwal said L&T was geared up to build a nuclear plant, while at the secondary level it could handle EPC contracts. Going forward, it would participate in projects if permitted, he said, adding “what was basically lacking was design, which warranted overseas technology transfer.”

Tata Power is another company that has been waiting for India’s nuclear isolation to end so that it could foray into nuclear power. About a year ago, the company had initiated talks with Areva on sourcing of nuclear power equipment.

“As indicated by our Chairman, we are interested in pursuing opportunities in nuclear energy as and when they are available,” a company spokesperson said. A recent agency report quoted an advisor to Tata Power as saying that the company was planning a minimum $3 billion investment in nuclear energy, either on its own or through a joint venture.

“As India has a three part nuclear programme, this (development) will take us to energy self-sufficiency in 30 years,” Dr M. Barma, Director of Tata Institute of Fundamental Research, said. This will open up doors for not only nuclear energy but also research, he pointed out.

A spokesperson for the Reliance ADAG group which had expressed an in-principle interest in nuclear power some time ago, said the development was “good for the country.”

More Stories on : Power | Outlook | Larsen & Toubro Ltd

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