A mission including representatives from more than 30 of the world’s leading commercial nuclear companies is scheduled to visit India over the next week, reported The Times of India.
The visit comes on the heels of a historic nuclear deal that marked the end of 34 years of U.S. sanctions on nuclear trade with India. According to the U.S. India Business Council (USIBC), the visit could establish an advantage in the projected $150 billion business potential with India.
The USIBC and Nuclear Energy Institute will lead the commercial nuclear consortium. Among the companies that will reportedly attend are General Electric, Westinghouse, Bechtel Nuclear, The Shaw Group, Babcock &Wilcox, Black & Veatch, CH2M Hill, Uranium One, Thorium Power, and USEC.
The mission had initially been scheduled for November, but it was cancelled on account of the terror crisis in Mumbai.
India may spend as much as $175 billion over the next 25 years expanding its nuclear industry to cope with rising energy demand, the USIBC has said. The nation currently relies on coal and liquid fuels to produce much of its power—and it is experiencing a 15% shortfall of demand in peak hours. The Indian media has speculated that the country could increase its nuclear capacity 15-fold by 2030—to over 60,000 MW from the current 4,120 MW.
The USIBC said that the U.S. industry would make a reliable partner for India in her nuclear expansion. “The U.S. is the largest generator of electric power in the world—with 27% of the world’s total installed capacity and nearly double the number of reactors as France. The U.S. also produces power at roughly 1/2 to 1/3 of the cost in other major countries,” the council said.
Sources: The Times of India, U.S.-India Business Council