The aluminium major National Aluminium Company Limited and the state owned Nuclear Power Corporation of India Limited have signed a MoU for collaboration with each other for setting up nuclear power plants in the country.

As per report Mr A K Srivastava CMD of NALCO and Mr S K Jain CMD of NPCIL signed the MoU. The proposed nuclear power plant will come up as JV between the two partners with Nalco’s stake being upto 49 %. NPCIL will be the majority stake holder with at least 51%.

Sources aid that the JV company would set up two nuclear power generating units reactor units at a mutually agreed location. A search committee headed by the executive director NPCIL will decide the locations. It will have a team of professional management headed by a chief executive officer for daily operations.

NPCIL is expected to co ordinate with various organizations including the organizations under the department of atomic energy to avail specialized assistance for development of greenfield projects.

It may be noted, as part of diversification, the Navratna NALCO aims to play a major role in power sector. As a measure in that direction it has forayed into the nuclear power sector.

(Sourced from Business Standard)