18.2 C
Jalandhar
Wednesday, October 27, 2021

ਵਾਹਿਗੁਰੂ

spot_img
yes punjab punjabi redirection

Mera Ghar

Loan Waiver

Kisan Victims

Water Bills

Electricity Bills

Invest Punjab

Group D

Parali

PSSSB Chemical

Markfed Sept to Nov

Innocent

Major shift: PMO mulls to open gates for FDI in nuclear power

- Advertisement -

Mumbai, 11 Jan, 2020-

In a bid to make India a global player in nuclear power sector, the Modi government is contemplating to allow Foreign Direct Investment (FDI) in the nuclear power area.

The decision, likely to be considered by the Prime Minister’s Office (PMO), would be a paradigm shift in India’s nuclear power policy, and subsequently open the gates for multinational companies to invest in the country’s nuclear energy projects.

After deliberations with the PMO, the Department of Atomic Energy (DAE) has sought legal opinion from the Union Law Ministry on whether foreign investment can be allowed in the nuclear power sector, if the FDI policy is amended.

“The department (DAE) proposes to submit a report for consideration to the PMO after seeking guidance from the Atomic Energy Commission for amending the policy,” says the letter by Joint Secretary, DAE (Anushakti Bhawan), dated January 8 this year.

The letter, reviewed by IANS, further reveals that DAE’s view is clear on private equity in nuclear power sector.

“DAE’s stand is that the Atomic Energy Act in no way prohibits private sector participation in nuclear power projects,” the letter adds.

An official of the DAE explained the department’s stand in simpler words: “The Act allows private investment. However, the FDI policy of the government does not permit foreign investment in nuclear projects. Once the FDI policy is amended, it would open doors for more funds in the nuclear power sector.”

Sources said that several foreign companies, including Westinghouse Electric Company (WEC) and GE-Hitachi of the US, Electricite de France (EDF) of France and Rosatom of Russia have expressed keen interest in participating in India’s nuclear power projects.

As per government sources, these MNCs are interested to invest in various areas such as technology, supplies or as contractors and service providers. However, these foreign companies can’t yet invest in the country’s increasing number of nuclear power projects, as the FDI policy does not permit them to do so.

In India, nuclear power is the fifth largest source of electricity after coal, gas, hydro-electricity and wind power. Till last year, India had 22 nuclear reactors installed in seven nuclear power plants spread across the country.

The nuclear power plants have total installed capacity of 6780 MW. Sources said that if FDI is allowed in the nuclear power sector, it would witness a very large scale expansion.  (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

20,369FansLike
112,672FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

UK Glasgow Climate Change Summit

Glasgow Climate Change Summit – by Asad Mirza

The upcoming Glasgow Summit will prove whether the global leaders are ready to put the entire mankind to peril or whether sagaciously they'll work...
Security Force in Kashmir

Kashmir: A battle that has been laid off for far too long- by Amjad Ayub Mirza

On October 22, 1947 Pakistan attacked the State of Jammu and Kashmir. It was the beginning of a conflict that would leave thousands dead...
Indian Population

In the light of the population explosion debate – by Nirendra Dev

Mizoram has made news -- not necessarily for the wrong reasons but certainly for quite unexpected reasons. North-Eastern India generally makes news due to...

SPORTS

Health & Fitness

Brain Complications

Covid more likely to cause rare brain complications than vax: Study

London, Oct 26, 2021 - Getting Covid infection increases the risk of rare neurological complications in people more than the vaccines, according to a new study. The study led by researchers from the University of Oxford analysed the healthcare records of more than 32 million people in England. Their findings, published in Nature Medicine, showed that Covid infection is associated with...

Gadgets & Tech