Bill to ease setting up of new nuclear projects in parliament

A bill to amend the Atomic Energy Act to "overcome difficulties encountered in the setting up of new nuclear projects and enhancement of nuclear power generation" was tabled in the Lok Sabha on Monday, an official statement said.

The Atomic Energy (Amendment) Bill, 2015, introduced in Lok Sabha by Minister of State for Atomic Energy Jitendra Singh will enable the Nuclear Power Corp to enter into joint ventures with other public sector undertakings (PSUs) to fast track nuclear power projects in the country, said the atomic energy department statement.

The government wanted to expedite nuclear reactor projects in order to meet the country's energy requirements, in a situation of limited financial resources with the department, it said.

"The expression 'government company' as defined in the existing act means a company in which, not less than 51 percent of the paid-up share capital is held by the central government, which in other words, precludes a government company from entering into a joint venture with another PSU.

"The bill introduced today (Monday) seeks to overcome this hassle by amending the definition of 'government company' in the said act with a view to expand its scope to include such joint venture companies as may be formed between NPCIL and other PSUs," it added.

The passage of the amendment bill by parliament will allow a PSU to collaborate with the Nuclear Power Corp for power generation, it said.