NPCIL and NALCO enter nuclear JV

India’s sole nuclear operator Nuclear Power Corp of India Ltd (NPCIL) and aluminium major National Aluminium Co (NALCO) have entered into a joint venture agreement to set up nuclear power plants across the country. NALCO would have a 49% equity stake while NPCIL would have a 51% holding.

“Signing of the JV agreement is considered as the foundation stone for formation of the JV company and is a milestone in Nalco’s endeavour to diversify in power sector,” NALCO CMD B L Bagra said.

“Both the state-run companies have already selected Kakrapar units 3 and 4, having capacity of 700 MW each, in Gujarat as their first joint venture company for establishment of Nuclear Power Plants in India,” an official said today adding that construction work has already started.

India has embarked on a programme that will see a considerable expansion of its nuclear power station fleet. It expects to construct at least a dozen indigenously-developed 700MW pressurised heavy water reactors across the country.