Indian Government to Allow Private-Sector Participation in Nuclear Sector

BANGALORE, INDIA--September 30, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--The Indian government recently announced the decision to allow private-sector participation in the country's growing nuclear power sector. Making the announcement, the Minister of State for Science and Technology, Prithviraj Chavan, indicated that domestic private power producers interested in setting up nuclear power plants will have to form joint ventures with the Nuclear Power Corporation of India Limited (NPCIL) (Mumbai). International firms cannot establish nuclear power plants in India, but foreign companies will be allowed to participate in the country's $150 billion nuclear power sector as suppliers of reactors and other critical equipment. Several international nuclear power equipment suppliers including Areva SA (EPA:CEI) (Paris, France), GE-Hitachi Nuclear Energy Incorporated (Wilmington, North Carolina) and Rosenergoatom Concern OJSC (Moscow, Russia) are holding talks with NPCIL.

Other companies featured: Indian Oil Corporation Limited (BSE:530965), NTPC Limited (BSE:532555), Petronet LNG Limited (BSE:532522), Bharat Petroleum Corporation Limited (BSE:500547)