Archive for October, 2009

Atomic plants with US cooperation to come up in Guj, AP

October 16, 2009 Leave a comment

From the DNA

October 16, 2009

Two atomic plants will be set up in collaboration with the US in Gujarat and Andhra Pradesh as part of civilian nuclear cooperation between the two countries.

Three other nuclear reactors — two in collaboration with Russia and one with France — would also be set up in the country, government said here tonight.

The government of India has designated Chhayamithi Virdi (Gujarat) and Kovvada (Andhra Pradesh) for setting up Light Water Reactor (LWR) based nuclear power plants in collaboration with the US, the External Affairs ministry said.

A site has been allocated in Jaitapur (Maharashtra) for setting up of such a reactor in collaboration with France, it said.

For the reactors to be set up in collaboration with Russia, one site each has been earmarked in Kudankulam (Tamil Nadu) and Haripur (West Bengal), it said.


Nuclear Power Corp to raise Rs15,000 crore debt

October 15, 2009 Leave a comment

G Seetharaman in DNA

October 15, 2009

State-owned Nuclear Power Corporation of India (NPCIL) expects to tie up Rs15,000 crore debt for its Jaitapur nuclear power plant by April-June, its director of finance J K Ghai said.

The amount is part of the debt for the first two units of the European Pressurised Reactor (EPR) to be set up at Jaitapur in Ratnagiri district of Maharashtra.

Ghai said, “We are in talks with top French banks such as BNP Paribas, Societe Generale, Calyon, Natixis and also HSBC, and we are hopeful of completing the process in 6-8 months.”

NCPIL signed an agreement with French nuclear power major Areva SA in February for the setting up of six EPR units with a combined capacity of 10,000 megawatt. The units will be set up in pairs. The first two units will have a capacity of 1,650 mw each.

Ghai said the final cost of the project is being worked out. “But assuming the cost per megawatt to be Rs10 crore because the reactors are imported, the total project cost should be Rs1 lakh crore,” he said at the sidelines of a conference.

NPCIL is looking at a debt-equity ratio of 70:30 for the project. The cost per mw using indigenous technology is about Rs6.5-7 crore.

“If the first two units cost Rs33,000 crore, then out of the debt component of Rs23,000 crore, we will raise about Rs15,000 crore through external commercial borrowings and export credit agencies. The remaining Rs8,000 crore will be raised in the domestic market or through a combination of domestic and overseas sources,” Ghai said.

He said that the interest rate should be in the range of 5.5-6.5% and the repayment period 25 years. NPCIL is also in talks with Coface, a receivables management firm, the equivalent of Exim Bank for the European Union.

SK Jain, chairman & managing director, NPCIL, said the firm should begin work on the first twin units by the end of next year or beginning of 2011. The subsequent twin units will be set up after a gap of three-and-a-half years. All the six units are expected to be commissioned in 12-15 years.

He said the government will begin handing over the 938 hectares of land for the project on Thursday and NCPIL expects to get possession of all of it by year-end.

India has an installed nuclear power capacity of 4,120 mw and targets a capacity of 63,000 mw by 2030 and 4,70,000 mw by 2050

Land acquisition for nuclear power plant to begin today

October 14, 2009 Leave a comment

From the Times of India

October 14, 2009

MUMBAI: The process for acquiring 938 hectares of land for setting up Jaitapur nuclear power plant in Konkan will start on Thursday. The project, to be implemented with the help of France, will equip India with six European pressurised water reactors (EPRs). The EPRs are a third generation design, with each plant having a capacity of up to 1,600 MW.

The project is estimated to be over in 10-12 years, following which 10,000 MW of electricity would be generated, said S K Jain, chairman and managing director of Nuclear Power Corporation of India Ltd (NPCIL) on Wednesday.

According to Jain, the technical specifications for the first two EPRs would be decided within a month and techno-commercial negotiations would be over by this year end. He said the environmental studies have been completed and the project would receive environmental clearance from the union government in the next six to eight months.

The work on the project is expected to start by the next year end, Jain said. The Memorandum of Understanding for supply of reactors was signed in February. The NPCIL said the project would aim at 80% indigenisation, though this would vary according to the costs involved.

Indian companies like L&T, BHEL and HCC would participate in the project. According to J K Ghai, director (finance), NPCIL, the first phase would cost around Rs 35,000 crore. Of the total land, 700 hectares would be for plant site.