Power majors team up to construct nuclear plant

October 29th, 2008 - 9:43 pm ICT by IANS  

New Delhi, Oct 29 (IANS) State-owned power majors National Thermal Power Corp (NTPC) and Nuclear Power Corp of India (NPCIL) have formed a joint venture to set up a nuclear power project.In a regulatory statement Wednesday, NTPC said the decision to start discussions with NPCIL was taken at its board meeting Oct 24.

NPCIL will have the majority stake of 51 percent in the proposed joint venture.

The domestic nuclear industry is expected to witness a boom after the Nuclear Suppliers Group allowed trade in nuclear technology and fuel with India.

India has also signed agreements with the US and France for cooperation in the civilian nuclear sector.

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