Power News We love to talk!

APR 21 2016

Westinghouse hopeful of signing nuclear plant deal during PM NarendraModi's Washington visit in June

  • Economic Times, ET Bureau / Hyderabad
  • Created: Thu 21st APR 2016

Almost eight years since the Indo-US civil nuclear deal was signed, a US company Westinghouse may finally sign a deal to enter India's commercial nuclear sector during Prime Minister Narendra Modi's proposed visit to Washington in June.

 A big ticket item in Modi's visit could be conclusion of a pact that is being negotiated for years by nuclear major Westinghouse and Nuclear Power Corporation of India Ltd (NPCIL) for building six reactors in Gujarat, people familiar with the development said. The two sides plan to hold a groundbreaking ceremony for the plant in later part of the year after the conclusion of the commercial pact, said official sources who did not wish to be identified.

 The pact was earlier scheduled to be signed during Modi's Washington visit early this month, but it was postponed as the prime minister and US President Barack Obama did not hold bilateral talks on the sidelines of the Nuclear Security Summit. According to sources, Westinghouse has submitted all technical details sought by NPCIL, which is in the process of making the contract.

 Westinghouse has been described as a "competitive energy source provider" by India as the two sides are focusing on narrowing down differences over Nuclear Liability Law. India has sought to assuage suppliers' concerns, including by setting up an insurance pool with a liability cap of $226.16 million.

 India's MoU with Japan last December for civil nuclear partnership has been a shot in the arm for Westinghouse, a unit of Japanese major Toshiba Corporation. The site Mithi Virdi in Gujarat was allotted to Westinghouse by the UPA government.

 Westinghouse and NPCIL have negotiated to build all six reactors in one go, instead of an earlier plan to strike deals for two at a time. In fact, this is the formula that Delhi is working with France and Russia as well. Westinghouse concluded pre-early works agreement with the NPCIL in 2013 for construction of two reactors at the proposed nuclear power plant.





Delhi Gujarat BILATERAL Nuclear Power Corporation of India Ltd Energy Memorandum Of Understanding Power Plant Nuclear Power United States Russia Barack Obama Japan Power India

Related News

  • Rural households still bereft of electricity: Report  Read more
  • Nepal, India agree on proper utilisation of water resources  Read more
  • Investments worth $250 billion lined up in coal, power and renewable energy, says PiyushGoyal  Read more
  • IOC to invest Rs 32,000 cr to ramp up petchem capacity by FY21  Read more
  • Shell to resume Arctic drilling off Alaska as green groups warn of disaster  Read more
  • Welspun Energy forays into solar rooftop space; builds three projects  Read more
  • Oil prices edge up after US drilling cut but oversupply still weighs  Read more
  • Coal India to take up clean coal technologies in a big way: Coal Secy  Read more
  • State electricity boards reluctant to buy power from NHPC projects  Read more
  • Nava Bharat Ventures achieves financial closure for Maamba project  Read more