India closing in on Westinghouse deal to build 6 nuclear reactors

India expects to fix a convention with Westinghouse Electric Co LLC to build six nuclear reactors in the first half of 2016, a senior government official said. The proposed power plant in Gujarat will speed up India’s strategy to manufacture roughly 60 reactors, making India world’s second-biggest nuclear energy market followed by China.

India wants to amplify its nuclear capacity to 63,000 megawatts (MW) by 2032, from 5,780 MW.  This strategy would mean a broader push to move away from fossil fuels, slash greenhouse gas emissions and avoid the hazardous effect of climate change.

USA has signed a pact with India in 2008, making the path for nuclear commerce that had earlier been obstructed due to New Delhi’s nuclear weapons programme and declining of the global Non-Proliferation Treaty (NPT).

In a statement, Westinghouse said it anticipated India would shift towards a structure that satisfies the CSC and channels accident liability exclusively to the operator. Before slipping back, shares of Westinghouse’s parent, Toshiba Corp, jumped as much as 3.3% after the news.

A contract with Westinghouse could also put demands on General Electric Co, whose nuclear energy venture with Hitachi was offered a site six years ago to manufacture reactors.

According to Indian and Russian officials, India is expected to offer Russia a site in Andhra Pradesh to build six reactors, on top of the six it is already expected to build in Tamil Nadu.

Negotiators from Westinghouse and Indian operator Nuclear Power Corporation of India Limited (NPCL) have held several rounds of meeting on the nuclear plant in Mithi Virdi, said a government official.


Source: The Times of India

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