Thorium Power welcomes PPP in nuclear power
steelguru.com
News Saturday, 24 Jan, 2009
Thorium Power welcomes PPP in nuclear power
Project monitor reported that Thorium Power Ltd, based at McClean in Virginia USA, a likely forerunner in India’s nuclear power sector, has welcomed recent signals from the Centre for increased private participation in the sector.
Mr Seth Grae president & CEO of Thorium Power Ltd said that “There is considerable technological expertise in the public and private sectors. We believe the future of India’s nuclear industry rests on strategic and effective collaboration.”
Mr Grae said that “There is much the private sector can do to advance nuclear renaissance in India, but full participation in national nuclear program will take time. India’s nuclear power program could certainly benefit from private participation, especially given the technological and scientific capabilities in the private sector. It is conceivable that this type of arrangement would enable India to accelerate its nuclear development program.”
He said that “From our perspective as a foreign player, we anticipate a number of collaborative, partnering opportunities with private sector entities. We are confident that the private sector will play a key role in the development of India’s nuclear industry.”
Mr Grae said that “As indicated by public officials, there are procedural steps that need to be implemented to amend the Atomic Energy Act, also, there are a number of regulatory and operational issues to address. However, the prospect for private sector participation is a positive development.”
In December 2008, Thorium Power signed a MoU with Punj Lloyd Group and became the first US company to enter India following the passage of the 123 Agreement. The JV with Punj Lloyd will consider deployment of Thorium Power's nuclear fuel technology in the country along with setting up an investment fund for investing in India and globally. It will also explore the establishment of an operating company in India.
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