Latest news with #CharudattaPalekar
NDTV
4 days ago
- Business
- NDTV
Government Likely To Allow Private Firms To Mine, Import Uranium To Help Nuclear Expansion
New Delhi: India aims to allow private firms to mine, import and process uranium as part of plans to end a decades-old state monopoly over the nuclear sector and bring in billions of dollars to boost the industry, two government sources said. The government plans to expand nuclear power production capacity by 12 times by 2047 and it is also relaxing requirements to allow foreign players to take a minority stake in power plants, Reuters reported in April. If it meets its expansion goal, nuclear will provide 5% of India's total power needs, according to government estimates. Until now, the state has maintained control over the mining, import and processing of uranium fuel because of concerns over the possible misuse of nuclear material, radiation safety and strategic security. It will retain its grip on reprocessing spent uranium fuel and managing plutonium waste, in line with global practice. But to help meet a surge in demand for nuclear fuel as it expands nuclear power production, the government plans to draw up a regulatory framework that would allow private Indian firms to mine, import and process uranium, the two government sources told Reuters. They asked not to be named because the plans are not yet public. The proposed policy, which the sources said was likely to be made public in the current fiscal year, will also permit private players to supply critical control system equipment for nuclear power plants, they said. The Finance Ministry, Department of Atomic Energy and Prime Minister's Office did not respond to Reuters' requests for comment. Outside India, countries including Canada, South Africa and the United States allow private firms to mine and process uranium. Domestic Supply Is Not Enough India has an estimated 76,000 tonnes of uranium, enough to fuel 10,000 megawatts of nuclear power for 30 years, according to government data. But the sources said domestic resources would only be able to meet about 25% of the projected increase. The rest would have to be imported and India would need to increase its processing capacity. In announcing its budget on February 1, the government made public its plans to open up the sector without giving details. Some of India's big conglomerates subsequently began drawing up investment plans. But analysts said amending the legislation could be complex. "It's a major and bold initiative by the Indian Government which is critical for achieving the target," said Charudatta Palekar, independent power sector consultant. "The challenge will be to define quickly the rules of engagement with private sector." New Delhi will have to change five laws, including the ones regulating mining and electricity sectors and India's foreign direct investment policy to enable private participation in many identified activities, the sources said.
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First Post
5 days ago
- Business
- First Post
India plans to open uranium sector to private players to boost nuclear expansion
The move aims to attract billions of dollars and support the country's ambitious goal to expand nuclear power capacity 12 fold by 2047 India is planning to open its uranium mining, import, and processing sector to private companies, ending a decades-long state monopoly, according to a Reuters report, citing government sources. This move aims to attract billions of dollars and support the country's ambitious goal to expand nuclear power capacity 12 fold by 2047. In April, Reuters had reported that Prime Minister Narendra Modi's government is also planning to relax requirements to allow foreign players to take a minority stake in power plants. STORY CONTINUES BELOW THIS AD Currently, India's government tightly controls uranium mining and processing due to concerns over nuclear material misuse, radiation safety, and strategic security. It will, however, continue to manage spent uranium reprocessing and plutonium waste handling, in line with international norms. To meet rising demand for nuclear fuel amid this expansion, the government is drafting a regulatory framework that would allow private Indian firms to participate in mining, importing, and processing uranium. The policy is expected to be announced within the current fiscal year, reported Reuters. In addition, private companies may be permitted to supply critical control system equipment for nuclear power plants, sources said. Globally, countries such as Canada, South Africa, and the United States already allow private firms to mine and process uranium. Domestic supply not enough According to government data, India has an estimated 76,000 tonnes of uranium — enough to power 10,000 megawatts of nuclear energy for 30 years. However, sources cautioned that domestic reserves would cover only about 25% of the fuel needed to support the country's planned nuclear expansion. The remaining demand would require imports, along with a significant boost to uranium processing capacity. In its February 1 budget announcement, the government revealed its intention to open up the nuclear sector, though it did not provide specifics. STORY CONTINUES BELOW THIS AD The move has since prompted several major Indian conglomerates to begin drafting investment plans. Still, experts warn that implementing the policy may face hurdles, as revising existing legislation could prove legally and politically complex. 'It's a major and bold initiative by the Indian Government which is critical for achieving the target,' Reuters quoted Charudatta Palekar, independent power sector consultant, as saying. 'The challenge will be to define quickly the rules of engagement with private sector,' Palekar added. New Delhi will have to change five laws, including the ones regulating mining and electricity sectors and India's foreign direct investment policy to enable private participation in many identified activities, the sources said. With inputs from agencies
Time of India
6 days ago
- Business
- Time of India
India set to allow its private firms to mine and import uranium to help nuclear expansion
India aims to allow private firms to mine, import and process uranium as part of plans to end a decades-old state monopoly over the nuclear sector and bring in billions of dollars to boost the industry, two government sources said. Prime Minister Narendra Modi 's government plans to expand nuclear power production capacity by 12 times by 2047 and it is also relaxing requirements to allow foreign players to take a minority stake in power plants, Reuters reported in April. If it meets its expansion goal, nuclear will provide 5% of India's total power needs, according to government estimates. Until now, the state has maintained control over the mining, import and processing of uranium fuel because of concerns over the possible misuse of nuclear material, radiation safety and strategic security. It will retain its grip on reprocessing spent uranium fuel and managing plutonium waste, in line with global practice. But to help meet a surge in demand for nuclear fuel as it expands nuclear power production, the government plans to draw up a regulatory framework that would allow private Indian firms to mine, import and process uranium, the two government sources told Reuters. They asked not to be named because the plans are not yet public. The proposed policy, which the sources said was likely to be made public in the current fiscal year, will also permit private players to supply critical control system equipment for nuclear power plants, they said. The Finance Ministry, Department of Atomic Energy and Prime Minister's Office did not respond to Reuters' requests for comment. Outside India, countries including Canada, South Africa and the United States allow private firms to mine and process uranium. Domestic supply is not enough India has an estimated 76,000 tonnes of uranium enough to fuel 10,000 megawatts of nuclear power for 30 years, according to government data. But the sources said domestic resources would only be able to meet about 25% of the projected increase. The rest would have to be imported and India would need to increase its processing capacity. In announcing its budget on February 1, the government made public its plans to open up the sector without giving details. Some of India's big conglomerates subsequently began drawing up investment plans. But analysts said amending the legislation could be complex. "It's a major and bold initiative by the Indian Government which is critical for achieving the target," said Charudatta Palekar, independent power sector consultant. "The challenge will be to define quickly the rules of engagement with private sector." New Delhi will have to change five laws, including the ones regulating mining and electricity sectors and India's foreign direct investment policy to enable private participation in many identified activities, the sources said.
Business Recorder
6 days ago
- Business
- Business Recorder
India set to allow its private firms to mine and import uranium to help nuclear expansion
NEW DELHI: India aims to allow private firms to mine, import and process uranium as part of plans to end a decades-old state monopoly over the nuclear sector and bring in billions of dollars to boost the industry, two government sources said. Prime Minister Narendra Modi's government plans to expand nuclear power production capacity by 12 times by 2047 and it is also relaxing requirements to allow foreign players to take a minority stake in power plants, Reuters reported in April. If it meets its expansion goal, nuclear will provide 5% of India's total power needs, according to government estimates. Until now, the state has maintained control over the mining, import and processing of uranium fuel because of concerns over the possible misuse of nuclear material, radiation safety and strategic security. It will retain its grip on reprocessing spent uranium fuel and managing plutonium waste, in line with global practice. But to help meet a surge in demand for nuclear fuel as it expands nuclear power production, the government plans to draw up a regulatory framework that would allow private Indian firms to mine, import and process uranium, the two government sources told Reuters. They asked not to be named because the plans are not yet public. India shuts unit at country's largest nuclear power plant for maintenance The proposed policy, which the sources said was likely to be made public in the current fiscal year, will also permit private players to supply critical control system equipment for nuclear power plants, they said. The Finance Ministry, Department of Atomic Energy and Prime Minister's Office did not respond to Reuters' requests for comment. Outside India, countries including Canada, South Africa and the United States allow private firms to mine and process uranium. Domestic supply is not enough India has an estimated 76,000 tonnes of uranium enough to fuel 10,000 megawatts of nuclear power for 30 years, according to government data. But the sources said domestic resources would only be able to meet about 25% of the projected increase. The rest would have to be imported and India would need to increase its processing capacity. In announcing its budget on February 1, the government made public its plans to open up the sector without giving details. Some of India's big conglomerates subsequently began drawing up investment plans. But analysts said amending the legislation could be complex. 'It's a major and bold initiative by the Indian Government which is critical for achieving the target,' said Charudatta Palekar, independent power sector consultant. 'The challenge will be to define quickly the rules of engagement with private sector.' New Delhi will have to change five laws, including the ones regulating mining and electricity sectors and India's foreign direct investment policy to enable private participation in many identified activities, the sources said.
Economic Times
6 days ago
- Business
- Economic Times
India set to allow its private firms to mine and import uranium to help nuclear expansion
Synopsis India is set to end its state monopoly over the nuclear sector, allowing private firms to mine, import, and process uranium. This move aims to attract billions in investment and boost nuclear power production twelvefold by 2047. The government will retain control over spent fuel reprocessing and waste management while relaxing foreign investment rules to meet rising fuel demands. Agencies India aims to allow private firms to mine, import and process uranium as part of plans to end a decades-old state monopoly over the nuclear sector and bring in billions of dollars to boost the industry, two government sources said. Prime Minister Narendra Modi's government plans to expand nuclear power production capacity by 12 times by 2047 and it is also relaxing requirements to allow foreign players to take a minority stake in power plants, Reuters reported in April. If it meets its expansion goal, nuclear will provide 5% of India's total power needs, according to government estimates. Until now, the state has maintained control over the mining, import and processing of uranium fuel because of concerns over the possible misuse of nuclear material, radiation safety and strategic security. It will retain its grip on reprocessing spent uranium fuel and managing plutonium waste, in line with global practice. But to help meet a surge in demand for nuclear fuel as it expands nuclear power production, the government plans to draw up a regulatory framework that would allow private Indian firms to mine, import and process uranium, the two government sources told Reuters. They asked not to be named because the plans are not yet public. The proposed policy, which the sources said was likely to be made public in the current fiscal year, will also permit private players to supply critical control system equipment for nuclear power plants, they said. The Finance Ministry, Department of Atomic Energy and Prime Minister's Office did not respond to Reuters' requests for comment. Outside India, countries including Canada, South Africa and the United States allow private firms to mine and process uranium. India has an estimated 76,000 tonnes of uranium enough to fuel 10,000 megawatts of nuclear power for 30 years, according to government data. But the sources said domestic resources would only be able to meet about 25% of the projected increase. The rest would have to be imported and India would need to increase its processing capacity. In announcing its budget on February 1, the government made public its plans to open up the sector without giving details. Some of India's big conglomerates subsequently began drawing up investment plans. But analysts said amending the legislation could be complex. "It's a major and bold initiative by the Indian Government which is critical for achieving the target," said Charudatta Palekar, independent power sector consultant. "The challenge will be to define quickly the rules of engagement with private sector." New Delhi will have to change five laws, including the ones regulating mining and electricity sectors and India's foreign direct investment policy to enable private participation in many identified activities, the sources said.
