This was discussed as a way out —to have Westinghouse presence in India following troubles faced by it over bankruptcy—during PM Narendra Modi’s just-concluded visit to Washington. The finance for the project from the US Exim Bank remains intact and the initiative could kickstart only in 2018.
The proposal to set up the six nuclear reactors, which has been gathering dust for some time, figured in the joint statement made by PM Narendra Modi & President Donald Trump.
Westinghouse is caught in a bankruptcy quagmire and there is no functional reference atomic plant –– a pre-requisite to obtain permission from the Atomic Energy Regulatory Board (AERB), the nuclear watchdog of the country.
As per the initial plan, the Nuclear Power Corporation of India Limited (NPCIL) and Westinghouse were scheduled to conclude a techno-commercial pact for the proposed plant in June this year but the US company’s financial troubles has slowed down the progress.
According to a joint statement by Modi and the then US president Barack Obama in 2015, both sides had resolved to work towards ‘finalising the contractual agreement by June 2017’.
Westinghouse, which was acquired by Japanese conglomerate Toshiba in 2006 for $5.4 billion, filed for bankruptcy in March. Top Westinghouse officials visited India twice since March to assure that the project is on track.
The Indo-US nuclear cooperation agreement was signed in 2008, under which Westinghouse and GE Hitachi were to build six nuclear reactors each in Andhra Pradesh and Gujarat. Initially, Westinghouse was allocated the Mithi Virdi site in Gujarat, but was later given the Kovvada site in Srikakulam district of Andhra Pradesh after GE Hitachi was not keen on moving on with the project. Westinghouse had planned to build six AP-1000 atomic reactors with a capacity of 1,208 MW each at Kovvada.
The other impediment to the Westinghouse project is the absence of a similar functional plant that could serve as a reference point.
Source:- ET
The post Westinghouse’s Andhra Pradesh nuclear reactors to be built by Indian partner appeared first on Indian Defence Update.
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