Four public sector majors will pool in Rs 45,000 crore to fund the equity portion of the several planned nuclear power projects in the country, Mr S.K. Jain, Chairman and Managing Director, Nuclear Power Corporation of India Ltd (NPCIL), has said.

NPCIL has alongside lined up €7 billion of credit from foreign banks.

While NPCIL itself has Rs 15,000 crore, three other PSUs – NTPC, Nalco and IOC – have agreed to bring in Rs 10,000 crore each, Mr Jain told Business Line in Chennai on Tuesday.

NPCIL has entered into three separate joint ventures with the three companies. But for them to start functioning, it requires an amendment to the Atomic Energy Act. The joint ventures are “waiting for the amendment”, Mr Jain said.

India has a very large nuclear programme. Currently, four units of 700 MW each, of the Pressurised Heavy Water Reactor (PHWR) technology, are coming up – these are units 7 and 8 of Rajasthan Atomic Power Station (RAPS) and units 3 & 4 of Kakrapara, Gujarat.

Apart from these four, NPCIL will begin work on eight more 700 MW PHWR plants in the 12th Plan Period (2012-17). These will come up at Gorakhpur, Haryana, Chutka, Madhya Pradesh, Bhazwada, Rajasthan and Kaiga, Karnataka.

Of the twelve units – those under construction and those planned – at least four will be commissioned during the 12th Plan, Mr Jain said.

In addition to these, eight ‘light water reactors’ of 1,000 MW each will be built with the help of foreign companies. The Russians will build two more at Kudankulam. The other six will be put up by GE, Westinghouse and Areva, Mr Jain said.

Furthermore, two more fast breeder reactors have been planned.

In all, around Rs 2.3 lakh crore will be spent on the nuclear programme that is being rolled out.

NPCIL has begun the process of raising debt. Four banks have committed to underwrite debt of €7 billion, Mr Jain said.

mramesh@thehindu.co.in

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