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India's largest power producer National Thermal Corporation(NTPC) on 29-10-2008 said it would form a joint venture company with the public sector Nuclear Power Corporation of India(NPCIL) for setting up two nuclear reactors. NPCIL will hold a majority stake of 51 per cent in the JV company, while NTPC will own the remaining stake. "This joint venture would be for setting up two nuclear reactors, their capacity has not been finalised yet," R S Sharma Chairman and Managing Director NTPC told News reporters.
The company plans to raise up to Rs 4,500 crores from domestic as well as international markets for meeting its expansion plans in the current financial year. The current average cost of building a nuclear plant is between Rs 7 crore and Rs 8 crore per MW, which means a 2,000-MW plant would require an investment between Rs 14,000 crore and Rs 16,000 crore, around 33 per cent higher than a thermal plant with a similar size.
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At present, only the state-owned NPCIL produces nuclear power in India. It has an installed capacity of 4,020 MW and produced 17 million units of electricity in 2007-2008.
NTPC posted a net profit of Rs 2,110 crores for the second quarter ended September 30, jump of 9.60 per cent from Rs 1,925
crores in the second quarter of last fiscal.
