Posts from — October 2009

India plans to sell stakes in at least five state-run firms by the end of the fiscal year in March 2010 following successful IPOs of two firms that raised $1.8 billion. Privatization had slowed down during the last decade but the present government, elected with a strong majority in May 2009, is showing signs of becoming less timid about such steps.

On September 29th Indian Prime Minister Dr. Manmohan Singh has finally confirmed what insiders and keen India watchers  have known for a while. Two “nuclear park” sites have been allocated to American technology for construction of new Atomic Power Plants. On the west coast is Mithi Vardi in the Saurashtra region of  Gujarat state; this located by the Gulf of Khambat.  On the east coast, in Andhra Pradesh in the West Godavari area is a site called Kowada or Kovada.  Note that there are multiple American contenders for these sites, notably General Electric (in possible alliance with Hitachi)and Westinghouse Electric (owned mostly by Toshiba). Typically each park may have four to six pairs of nuclear reactors and local waste processing facilities.

Areva of France has been allocated a nuclear park in Jaitapur, Mahrashtra.  Haripur in West Bengal will host Russian VVER units
A site are Pati Sonapur (Orissa) remains unallocated.  Russia is already in advanced construction of other VVER units in Kudankulam, Tamil Nadu; additional reactors at this site were approved shortly after the US-India Civil Nuclear Accord was signed in October 2008.

From 1974 until 2008, India was denied access to overseas nuclear technology.  While many emerging countries choose one platform and partner, India has chosen to ally with most major providers of atomic power plants. Korean, Canadian and other companies are also lobbying for access to India’s market.