India eyes long-term uranium supplies

22 October 2008

Mumbai: India is exploring the possibility of obtaining uranium supplies from countries such as Kazakhstan and Uzbekistan on a long-term basis to fuel existing nuclear power plants in the country.

The country is looking at the possibility of joint mining and exploration with other countries to secure long-term uranium sourcing arrangements, Shyam Saran, the prime minister's special envoy on the Indo-US nuclear deal, said.

The 17 nuclear power plants across the country currently generate power at 54 per cent of their installed capacity and this could go up to 80 per cent if necessary fuel was made available, he said.

Besides, he said, ''India also expects to have four more nuclear reactors at Koodankulam, where two 1,000 MW atomic plants are being built with Russian help.''

Speaking at an interactive session organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) on civil nuclear issue, Saran said the current market meltdown could also help India source both uranium and nuclear reactors at lower rates.

''The current financial crisis can be a blessing in disguise. This creates a favourable condition for India to embark on a truly ambitious nuclear programme, getting the best terms and conditions, including technology transfer,'' he said.