The report said New Delhi could also relax requirements to allow foreign players to take a minority stake in power plants. So far, the government has maintained total control over the mining, import and processing of the uranium fuel due to concerns relating to its misuse and radiation effect. But now it is preparing a plan to let enter the private firms to mine, import and process the key nuclear fuel, Reuters reported, citing two government sources.
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When will the policy see day of light?
The proposed policy, according to the report, is likely be made public in the current fiscal year. Sources told the news agency the policy would permit private players to supply critical control system equipment for nuclear power plants.
Several countries like Canada, South Africa and the United States allow private firms to mine and process uranium.
India’s nuclear power outlook
The official government data states that India has an estimated 76,000 tonnes of uranium, which is enough to fuel 10,000 megawatts of nuclear power for 30 years, as per Reuters. Sources said the domestic resources would only be able to meet about 25% of the projected increase, with the requirement to import the rest.
The Centre, in its announcement during budget on February 1, made public its plans to open up the sector without giving details.
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“It’s a major and bold initiative by the Indian Government which is critical for achieving the target,” said Charudatta Palekar, independent power sector consultant, quoted Reuters.