IOC to invest Rs 3,600 crore in Rajasthan Atomic Power
New Delhi   14-Jul-2010

IndianOil has lined up Rs 3,600 crore for seventh and eighth units of the Rs 12,000-crore Rajasthan Atomic Power Project (RAPP) in Rawatbhata. This investment is part of IOC's agreement with Nuclear Power Corporation (NPC) for the construction of heavy water pressurised water reactor. The oil company is picking up around 30% equity in this 1400 mw atomic power plant.

IndianOil chairman BM Bansal told ET that the company is planning to make serious foray into the nuclear power sector. Nuclear is a green business. Its future is bright. "Apart from this, we are also looking at picking up equity in NPCIL's upcoming projects. Our partnership in a project will depend upon its viability," he said.

Besides RAPP, the projects listed by IOC for joint participation with NPCIL includes the proposed Rs 14,000-crore nuclear power project at Kakrapar in Gujarat, the Rs 18,000 crore project at Kundakulam in Tamil Nadu for 2,000 mw and the Rs 28,500 crore project at Jaitpur in Maharashtra for 3,300 mw. NPCIL aims to achieve a 10,000 mw capacity in the 11th Plan period, against about 4,000 mw at present.

As a part of its diversification plan, the oil company is also entering the wind power, solar and thermal power generation areas. The company has forayed into the wind energy business by commissioning a 21 mw wind power project in the Kutch district of Gujarat. It has also launched solar lanterns in Orissa, Karnataka and the NE states. The company is now planning a phased all-India rollout. Besides, the company is setting up a grid-linked solar power plant worth about Rs 100 crore at Barmer in Rajasthan.