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IndianOil and NPCIL sign JV agreement for setting up nuclear power plants
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| merisarkar news service, New Delhi, January 13, 2011 |
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BM Bansal and Dr. SK Jain at the occasion
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India's largest oil marketing company - Indian Oil Corporation Ltd and Nuclear Power Corporation of India Ltd. (NPCIL) have entered into a joint venture agreement for setting up nuclear power plants across the country.
The agreement was signed by BM Bansal, Chairman, IndianOil, and Dr. SK Jain, Chairman & Managing Director, NPCIL, at Mumbai on Wednesday. AP Joshi, Additional Secretary (Dept. Of Atomic Energy), Mr. GC Daga, Director (Marketing), IndianOil; Mr. JK Ghai, Director (Finance), Mr. G Nageswara Rao, Director (Operations), Mr. KC Purohit, Director (Projects), and Mr. SB Agarkar, Director (HR) of NPCIL; and other senior officials from both the companies were present on the occasion.
IndianOIl said in a statement that its business interests straddles the entire hydrocarbon value chain – from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas, marketing of natural gas, and petrochemicals. And In its endeavor to be an integrated energy major and especially to partner low-carbon energy business, IndianOil is steadfast in its commitment to partner India’s energy security goals.
IndianOil expressed the hope that with this historic agreement, the company’s already successful forays into renewable energy sources like solar, wind, bio-fuels, Hydrogen, etc., will now be augmented by nuclear energy.
NPCIL, a wholly-owned enterprise of the Government of India under the Department of Atomic Energy, and its subsidiaries under the Atomic Energy Commission (AEC) are the only agencies authorised for setting up nuclear power plants in India.
Presently, NPCIL operates 20 nuclear reactors with a total installed capacity of 4780 MW and six reactors with 4800 MW capacity are under construction.
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