Westinghouse Assigned the Contract to Build 6 Nuclear Power Plants in Gujarat
This is a part of a USD 150 billion nuclear power program
December 24, 2015
India has signed a contract with the US-based Westinghouse Electric Co. LLC to build six nuclear reactors, reported Reuters. This is a part of a USD 150 billion nuclear power program. These power plants are proposed to be set up in Gujarat. The construction work of these power plants will begin in the first half of next year.
With the new contract, India is expanding its nuclear power sector and plans to make around 60 plants across the country. India’s move to nuclear power expansion is termed as a step towards curbing pollution to avoid the bad effects of climate change by cutting down the use of fossil fuels which leads to greenhouse gas emissions.
India wants to expand its nuclear power capacity to 63000 megawatts by 2031 from 5780 megawatts now. If the target is achieved, India will become the second-largest nuclear market next to China.
Until 2008, India’s nuclear trade was not active due to the successful experimentation of some nuclear weapons, which violated the norms of global Non-Proliferation Treaty (NPT).
In 2008, India inked an agreement with the US, which opened India’s way to nuclear trade.
But in 2001, India enacted a new bill that gave the state-run Nuclear Power Corporation of India Ltd (NPCIL) the power to seek compensation from the makers of the power plant, in the case of any accident. This eventually did big damage to the nuclear power market in the country.
Now the officials are keen on addressing the concerns of suppliers by making an insurance fund worth USD 226.16 million. But this fund must get permission from the International Atomic Energy Agency’s Convention on Supplementary Compensation for Nuclear Damage, which is expected to convene within weeks.