Nuclear Energy Expansion: Govt Likely To Allow Private Players To Mine, Import Uranium, Says Report
While the government could allow the entry of private players, it is still expected to retain its control on reprocessing the spent uranium fuel, the report said.
The government is likely to allow private firms in India to mine, import and process uranium, ending the state's monopoly on the nuclear sector, news agency Reuters on Wednesday, citing sources.
This move will be monumental for the sector as so far only the government had control over the mining, processing and import of uranium fuel. However, the development could not be independently verified yet.
If the government meets its set expansion goals, then the nuclear sector will be able to provide 5% of India's total power needs.
While the government could allow the entry of private players, it is still expected to retain its control on reprocessing the spent uranium fuel and managing plutonium waste, the Reuters report said.
The government will form a regulatory framework to facilitate the entry of private players, that will also allow it to meet the surge in demand for the nuclear fuel as the production expands, the report added.
This policy is likely to be made public in this financial year, the sources who spoke to Reuters claimed. The government will also allow private players to supply critical control system equipment for the nuclear power plant.
Notably, India's power sector eyes achieving 50 gigawatts of nuclear energy capacity by 2047. To meet this target, the country needs to "open up the field to a large number of investors", said Vinayak Chatterjee, founder and managing trustee of The Infravision Foundation, while speaking to NDTV Profit in June.
