BHEL's planned three-way joint venture to build nuclear turbines with French energy major Alstom has been stalled as the government has objected to the presence of a state-run nuclear power producer as a partner, citing conflict of interest.
The department of atomic energy contends that Nuclear Power Corp of India (NPCIL) cannot be both a buyer and supplier of nuclear turbines, as this could hurt price discovery, officials said. The move is a setback to the venture that has been in the works for close to a year. It has already secured commitments worth over Rs 7,500 crore to build turbines for 10 nuclear energy plants of 700 mw each.
"The department of atomic energy (DAE) has objected to NPCIL's participation in the venture on the grounds of conflict of interest," a senior government official told ET. NPCIL CMD SK Jain confirmed that the DAE has raised some concerns on its role in the venture.
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http://economictimes.indiatimes.com/news/news-by-industry/energy/power/bhels-nuke-turbine-joint-venture-put-off/articleshow/7238487.cms
Friday, January 7, 2011
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