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Nalco pulls out of JV with NPCIL f or nuclear power plant in Gujarat
Bhubaneswar . Nalco has decided to drop its plan to foray into nuclear energy generation. The company had signed a memorandum of understanding (MoU) with Nuclear Power Corporation of India Ltd (NPCIL) in 2012 to set up two units of Kakrapara Atomic Power Station in Gujarat with capacities of 700 Mw each. The cost of the project was estimated at Rs 12,000 crore.
“We have decided to pull out of the JV with NPCIL following change in technology of the project. Initially, it was decided to build the plant with indigenous technology. But later, it was decided to use foreign technology. The foreign technology will not only be more expensive, the gestation period of the project will also be more and we are not in a mood to wait that long with so much of investment exposure,” said Nalco Chairman and Managing Director Tapan Kumar Chand.
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