BHUBANESWAR: Nuclear Power Corporation of India Limited (NPCIL) and Nalco have incorporated the joint venture (JV) company __ NPCIL-Nalco Power Company Limited __ to accelerate their nuclear power project in the country.
The Board of Directors of the JV company met here on Friday for the first time to lay the road map. The company has selected Kakrapar units 3 and 4, with 700 MW power generation capacity each in Surat of Gujarat, as its first project. The project estimated at ` 11,500 crore will utilise indigenously developed Pressurised Heavy Water Reactors (PHWRs) for nuclear power generation. Construction work has commenced and the power project is targeted to be commissioned by December 2015.
Nalco has 26 per cent stake in the JV company which is proposed to be enhanced to 49 per cent subsequently with the balance stake controlled by NPCIL. The JV company would spearhead Nalco’s endeavour to diversify into power sector and harness clean energy sources, CMD, Nalco, BL Bagra told this paper.