Punj Lloyd signs nuclear energy cooperation deal with US firm

December 4th, 2008 - 3:29 pm ICT by IANS  

New Delhi, Dec 4 (IANS) Engineering and construction major Punj Lloyd Ltd Thursday signed a memorandum of understanding with the US-based nuclear energy company Thorium Power Ltd to jointly explore the possibilities of nuclear fuel generation in India.“The agreement, signed between the two companies today, will help Thorium Power and Punj Lloyd set up joint venture projects in the area of nuclear fuel in India and neighbouring regions,” Thorium Power president and chief executive Seth Gare said.

“We will explore full range of options available to both our companies in areas as diverse as marketing our non-proliferative fuel designs, providing advisory services to emerging national nuclear programmes and exploring development and investment opportunities in the nuclear industry”, Gare added.

Punj Lloyd Group chairman Atul Punj has said the nuclear space is very promising and the partnership aims to take forward India’s long standing commitment to the thorium fuel cycle.

“India has the second largest deposit of thorium in the world and the successful launch of the thorium technology will make India self-reliant with its own fuel in the long run,” Punj said.

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