NPCIL and Westinghouse to unleash $150 billion deal

The Dollar Business Bureau

The agreement between the US firm Westinghouse and Nuclear Power Corporation of India Ltd (NPCIL) is to commence preparatory work on six nuclear reactors in India is expected to release a “$150 billion nuclear industry in India thereby creating jobs and ensuring access to clean energy and ensuring our energy security.”

On June 7, 2016, the White house said that Westinghouse and NPCIL have agreed to start the engineering and site design work for six nuclear power reactors in India. They plan to conclude the contractual arrangements by June 2017.

According to FICCI, this agreement will cement the strategic relationship between the two nations. It will also help in reaffirming the ‘trusted partner’ status, that has been granted to India in Defence and Aerospace.

The apex business organization also said that these positive developments in the nuclear energy sector will send a proper signal for the re-operationalization of the domestic nuclear sector which got stalled for two years due to the nuclear liability issue.   

Also, the finalization of the Indian Nuclear Insurance Pool (INIP) policy for the operator bodes well in the positive environment. Along with that, FICCI hopes that INIP of the supplier gets IRDA approval as early as possible. This would help in reinstating the domestic program.