The Lok Sabha passed the Atomic Energy (Amendment) Bill, 2015 on Monday which will allow Nuclear Power Corporation of India Ltd (NPCIL) to form joint ventures with other public sector units for setting up civil nuclear power plants in the country.
The Bill would now need the approval from the Rajya Sabha.
Till now, the Atomic Energy Act only allowed NPCIL and Bhartiya Nabhikiya Vidyut Nigam Ltd to build and operate nuclear power plants.
Several central government public sector units, including the likes of hydrocarbon exploration & production company ONGC, steelmaker Steel Authority of India Ltd and others, have in the past expressed interest to invest in the sector.
Jitendra Singh, Minister of State for the Department of Atomic Energy, said in the Lok Sabha that the changes will now allow State governments to be part of the nuclear energy programme by investing through state owned corporations. The existing Atomic Energy Act defined ‘government company’ as a company where not less than 51 per cent stake is held by the Central government. This prevented NPCIL from entering into joint-venture with any other public sector units.
The amendments now allow NPCIL to form joint ventures with both central and state public sector units. The amendments would also allow the government to issue licences to such joint venture to set up nuclear power plants, take measures for safe operation and ensure safe disposal of nuclear material.