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Foreign Companies in Nuclear Projects

Foreign Companies in Nuclear Projects

Several foreign companies from various countries including Westinghouse Electric Company (WEC) and GE-Hitachi, United States of America (USA), Electricite de France (EDF), France and Rosatom, Russia have shown interest in participating in the country’s nuclear power projects in various capacities as technology partners, suppliers, contractors, service providers, etc.

As per the Foreign Direct Investment (FDI) Policy of the Government, FDI is not permitted in nuclear power sector. Thus, foreign companies cannot invest in nuclear power. Nuclear power projects to be set up with foreign technical cooperation are planned to be funded by a mix of equity and debt, with equity to be mobilized from internal resources of Nuclear Power Corporation of India Limited (NPCIL), Joint Venture companies between NPCIL and other Central Public Sector Undertakings and Government budgetary support. Foreign companies can however, invest in the supply chain for nuclear power projects.

Every twin unit nuclear power station would generate a direct employment of about 850 comprising engineers, supervisors, technicians and other personnel. In addition, indirect employment for thousands of people would be generated with suppliers, contractors, service providers, etc. The resultant increase in economic activity would open up opportunities for various businesses and will result in further employment generation.

This information was provided by the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in written reply to a question in Lok Sabha today.

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