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NALCO and NPCIL to set up 1400 MW Nuclear power plant in Gujarat

Discussion in 'World Economy' started by Veer, Oct 25, 2010.

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  1. Veer

    Veer 2nd Lieutant FULL MEMBER

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    NALCO and NPCIL to set up 1400 MW Nuclear power plant in Gujarat

    ET reported that Aluminium major NALCO will set up a nuclear power plant in Gujarat in association with Nuclear Power Corporation of India Limited at a gross investment of INR 12,600 crore.

    Mr AK Shrivastava CMD of NALCO said that the project will be undertaken by our JV Company in which NPCIL will hold majority stake. The JV agreement for the same is expected by October end.

    The two state owned entities had last year entered into a pact to explore possibilities of collaborating in the field of nuclear power. The proposed power project will have an annual production capacity of 1400 MW and would come up in Surat, Gujarat. Two separate units of 700 MW are likely to be built. For generating one mega watt of nuclear power, an investment of about INR 9 crore is required.

    He said that we are now betting big on the power sector. We have joined hands with NPCIL to foray into the business of generating nuclear power for commercial use. The proposed project is to be funded jointly by both the companies in proportion to their equity holding in the joint venture entity. NALCO at present has a cash reserve of around INR 4,400 crore. NPCIL has the capability of setting up nuclear power. For us, it is an attractive avenue.

    NALCO, at present, operates 1,200 MW coal based power unit at its existing aluminum operations in Orissa. Meanwhile, the navratna company has also announced independent INR 6,000 crore capacity expansion projects in the aluminum space which can also see creation of additional 1,250 MW unit in Orissa.

    Moreover, the PSU also plans to set up a super critical thermal power plant of 1,980 MW capacities in Dhenkanal district of Orissa.

    Steel Guru : NALCO and NPCIL to set up power plant in Gujarat - 171640 - 2010-10-25
     
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