Boost nuclear power sector as NPCIL is allowed to form joint ventures

GN Bureau | November 23, 2015




In a bid to push for erection of nuclear power projects, the cabinet has given green signal to amend the atomic energy act and allow joint sector units.

"The amendment has been brought in to facilitate the fast expansion of the nuclear power, utility and establishment, and this is living up to India's commitment of using nuclear energy for peaceful purpose," Jitendra Singh, union minister of state for the Prime Minister's Office, which looks after the Department of Atomic Energy (DAE), said.

The changes will enable Nuclear Power Corporation of India Ltd (NPCIL) to enter into joint ventures with other public sector undertakings.

"The NPCIL is not being able to enter into joint ventures with other PSUs and companies because of the existing nature of the companies act, which did not provide for this kind of provision for government sector companies," Singh added.

Singh said the move will help in getting funds for big ticket projects. Concern over lack of financial resources has been raised by the department of atomic energy (DAE) frequently. The amendment will enable NPCIL, which is one of the PSUs of DAE, to enter into joint ventures with other government undertakings.

"With the amendments, we are facilitating entry of NPCIL for joint ventures with other PSUs. For example, a PSU with the ministry of power can collaborate with NPCIL and could help in common objective of power generation network. Significantly this does not imply any financial constraint on the part of the department of atomic energy. On the contrary, it will enable it to raise finances from the other side," Singh said about the possibilities that the changes will bring in the sector.

Comments

 

Other News

No longer a walk in the park for bureaucrats

Continuing as a bureaucrat just got a lot tougher with the government weeding out the incompetent and taking action against 381 civil services officers, including 24 who were from the Indian Administrative Service.   The Narendra Modi government’s action against civil s

Kashmir’s ‘Nelson Mandela’ arrested for terror funding

 The National Investigating Agency (NIA) has arrested Shabbir Shah, who was once called the Nelson Mandela of Kashmir for his advocacy of peace, for his alleged involvement in money laundering to support terrorism in Kashmir. Shah, whose J&K democratic freedom party is a part of the pro-

Quantum urbanism: Step one, dismantle systems thinking once and for all

Feel your favourite city. The words that typically come to your mind are liberally fused with adjectives in a valiant effort to give shape to our deeply felt emotions. It is quite common to find descriptions that are a chaotic and joyful mix of traits and idiosyncrasies that one can mistake for a good frie

Should employment exchanges be scrapped?

Should employment exchanges be scrapped?

Pilot project in Ranchi for PDS subsidy transfer

After Chandigarh, Puducherry and Dadra & Nagar Haveli, the government is now looking at subsidy transfer scheme for Public Distribution System (PDS) in Ranchi through a pilot project.   But, there is a crucial difference between the Ranchi project and the initiative alrea

Terror funding through cross LoC trade in Valley unearthed

Much before the National Investigating Agency (NIA) had arrested seven Hurriyat leaders on Sunday in connection with the funding of terror activities in Kashmir, the agency had unearthed a racket involving undervaluation of the goods coming from the Pakistan occupied Kashmir for trade in Jammu and Kashmir





Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter