Nuclear Power Corporation of India Limited (NPCIL) and NTPC on Tuesday entered into a joint venture agreement (JVA) to set up nuclear power projects.
The agreement was signed by S. K. Jain, Chairman and Managing Director, NPCIL, and R. S. Sharma, Chairman and Managing Director, NTPC, here.
The agreement envisages incorporation of a company for setting up nuclear power projects in the country. While NPCIL will have 51 per cent equity in the new company, the remaining 49 per cent will be held by NTPC. The joint venture company was expected to be operational in a couple of months. The venture was the brainchild of the then Minister of State for Power Jairam Ramesh who had held extensive talks with NPCIL to work out a viable venture for NTPC's foray into nuclear power.
Among those present at the signing ceremony included Union Power Minister Sushilkumar Shinde, Minister of State for Science and Technology Prithviraj Chavan, Chairman, Atomic Energy Commission, Srikumar Banerjee, and Power Secretary H. S. Brahma.
NPCIL has comprehensive capability in all facets of nuclear power generation technology, namely, site selection, design, construction, commissioning, operation, maintenance and life extension and has plans for significant capacity addition.
NTPC, the largest power generation company, with an installed capacity of 31,704 MW has established itself in the field of development of thermal power projects and has proven track record in engineering, contracts, project management and power generation and intends to enlarge the area of its operation by making a foray into nuclear power development.
