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  India   Centre to amend Atomic Energy Act

Centre to amend Atomic Energy Act

AGE CORRESPONDENT
Published : Nov 19, 2015, 12:17 am IST
Updated : Nov 19, 2015, 12:17 am IST

Aiming to enhance nuclear power projects in the country, the Union Cabinet on Wednesday decided to amend the Atomic Energy Act, a move which would allow Nuclear Power Corporation of India Ltd to enter

Aiming to enhance nuclear power projects in the country, the Union Cabinet on Wednesday decided to amend the Atomic Energy Act, a move which would allow Nuclear Power Corporation of India Ltd to enter into joint ventures with other public sector undertakings.

“The amendment has been brought in to facilitate the fast expansion of the nuclear power, utility and establishment, and this is living up to India’s commitment of using nuclear energy for peaceful purpose,” Mr Jitendra Singh, Union minister of state for the Prime Minister’s Office, which looks after the department of atomic energy, said after the Cabinet meeting.

“Since we realise that the nuclear reactor projects have to be expedited. In order to meet the requirements of electricity and energy in India, the constraint that was being faced was in terms of financial implications. Also in the terms of the NPCIL not being able to enter into joint ventures with other PSUs and companies because of the existing nature of the Companies Act, which did not provide for this kind of provision for Government sector companies,” Mr Singh added.

He said the move will help in getting funds for big ticket projects.

Concern over lack of financial resources has been raised by the department of atomic energy frequently. The amendment will enable NPCIL, which is one of the PSUs of DAE, to enter into joint ventures with other government undertakings.

Location: India, Delhi, New Delhi