NTPC to appoint consultant for overseas uranium mine identification

State-owned NTPC will appoint a consultant to identify uranium mines overseas after signing a formal agreement with Uranium Corporation of India Ltd (UCIL), a company official said.

The move will be part of the company's plan to secure raw material for its future nuclear projects to be set up on individual basis.

At present, NTPC is setting up a nuclear project in a joint venture (JV) with Nuclear Power Corporation of India Ltd (NPCIL) in Rajasthan at an investment of about Rs 42,000 crore. While NTPC has 49 per cent stake in ASHVINI, NPCIL has majority 51 per cent shareholding.

Prime Minister Narendra Modi on Thursday laid the foundation stone of 4x700 MW Mahi Banswara Rajasthan Atomic Power Project (MBRAPP) being set up by JV entity Anushakti Vidhyut Nigam Ltd (ASHVINI) at Banswara.

NTPC CMD Gurdeep Singh recently shared plans of setting up individual nuclear projects.

He said his company is collaborating with various nuclear technology providers and state governments to set up projects on its own.

Uranium, a naturally occurring metallic element, is used as fuel to power nuclear projects.

Speaking to PTI, a company official said, "We are in the process of signing the JV agreement Uranium Corporation of India Ltd (UCIL) for joint techno-commercial due diligence of overseas uranium assets. It has gone for approval to the board. Then we will award contract for consultancy."  There will be a consultant who will advise on the locations for the uranium mines, he said, adding that a call will be taken on acquiring these assets accordingly.

Parameters like amount of reserves, logistics cost among others will also be evaluated, the official said.

NTPC board had earlier approved a draft MoU (memorandum of understanding) with Uranium Corporation of India Ltd (UCIL) for joint techno-commercial due diligence of overseas uranium assets.

Uranium, a naturally occurring metallic element, is used as fuel to power nuclear projects.

Established as a thermal-based power generator in 1975, NTPC Ltd (erstwhile National Thermal Power Corporation Ltd), has been increasing its capacity while diversifying into new modes of energy generation.

At present, the country's largest power generator has an installed capacity of 83,863 MW at group-level based on fuel sources like coal, gas/liquid fuel, hydro, and solar, according to the NTPC website.