Nuclear Power Beneficiaries

Nuclear Power Beneficiaries

Indo-US nuke pact clears last hurdle

After three years of torturous and controversial journey, the Indo-US civil nuclear co-operation deal is finally expected to see the light of day when President George W. Bush signs on the dotted line or over the weekend. US Secretary of State, Condoleezza Rice is scheduled to arrive in New Delhi on Saturday to sign the inter-governmental instruments that will operationalise the landmark agreement. The final legislation is titled "United States-India Nuclear Cooperation Approval and Nonproliferation Enhancement Act".

On Wednesday, the US Senate approved the deal with an overwhelmingly majority, while also shooting down two killer amendments. The agreement, entered into between Prime Minister Dr. Manmohan Singh and President Bush in 2005, secured 86 votes while 13 Senators voted against it. The US-India Agreement for Cooperation Concerning Peaceful Uses of Nuclear Energy (123 Agreement) got bi-partisan support after the killer amendments, moved by two Democratic Senators, were turned down.

Democrat Barack Obama and Republican John McCain also voted for the bill, as did Democratic Vice-Presidential candidate Joe Biden. The legislation was already cleared by the House of Representatives. The bill still contains provisions that would ensure cessation of US nuclear cooperation in case New Delhi conducts a nuclear test.

Rice wrote to Senate majority leader Harry Reid, that a nuclear test by India would result in the most serious consequences, including automatic cut-off of cooperation as well as a number of other sanctions. She expressed hope that India would continue to abide by its unilateral moratorium on further nuclear tests.

However, India said that the country still retains the right to conduct a nuclear test, while others have a right to react to such an incident. "India has the right to test, others have the right to react," External Affairs Minister Pranab Mukherjee said.

N-deal...Massive investment expected in power sector

Venugopal N. Dhoot, immediate past president of ASSOCHAM and Chairman and MD of the Videocon Group on Monday announced that with the country's nuclear civil agreement with the US approved by the NSG, a minimum of Rs2 trillion investment is expected to go towards nuclear power generation. Forty domestic companies have already started negotiations with their foreign counterparts for nuclear power generation, Dhoot said.

Releasing the ASSOCHAM study on 'Indian Manufacturing: Aiming to Achieve 15% Sustainable Growth’ with ASSOCHAM Secretary General, D.S. Rawat, Dhoot said that among the leading corporates that are negotiating nuclear power joint venture include Videocon, JSW, Tatas and others.

With nuclear civil power agreement becoming a reality said that Dhoot, the power generation would be to an extent of 40,000 megawatt (MW) in the next 15 years and the cost of power will be much cheaper. The ASSOCHAM would shortly submit a detailed blue-print to the Prime Minister.

The ASSOCHAM study has brought out a 20-point approach paper for achieving 15% manufacturing growth with focused attention to improve logistics, port operations, trade policy approach, relaxation in borrowing costs and tax exemptions for India Inc.

The other point include reforms in infrastructure sector, diversification in existing export structure, emphasis on R&D, partnership between policy makers and captains of Indian industry, liberalise reforms in labour and engineering sector and special concession for agriculture products as well as processing of perishable products including reliable power supply.

India US Nuclear Deal Beneficiaries

Larsen & Toubro

Bharat Heavy Electricals

National Thermal Power Corporation

Areva T&D India

Alstom Projects India

Rolta India

Gammon India

Hindustan Construction Company

ABB

Crompton Greaves

Walchandnagar Industries

Reliance Energy

Tata Power Company


Larsen & Toubro has done engineering, procurement and construction projects for nuke power plants. It is currently working on the 2,000 megawatt Kudankulam nuclear project.

Bharat Heavy Electricals supplies up to 500 megawatt of equipment to Nuclear Power Corporation. It has an existing tie-up with Siemens for nuclear technology.

National Thermal Power Corporation is reportedly in talks with Nuclear Power Corporation of India for setting up a 2000 megawatt nuclear plant.

Areva T&D is reportedly looking at a plant for uranium mining and recycling. The plant would be set up after nod from Nuclear Power Corporation.

Alstom Projects India already makes nuclear reactors and rotors. Its parent company is a world leader in conventional nuclear projects. It makes turbines for nuclear power stations.

Rolta India along with its joint venture Stone and Webster provides reactor-building technology. Stone & Webster’s parent has 20% in Westinghouse Electric, a nuclear reactor maker.

Gammon India has undertaken turnkey construction for nuclear projects.

Hindustan Construction Company has constructed four nuclear power projects in India. It is an engineering procurement and construction contractor for nuclear projects.

ABB makes components for power projects. Its parent company’s exposure includes new nuclear power plants, systems and components.

Crompton Greaves works with Nuclear Power Corporation of India. It has completed a switchyard for nuclear project.

Walchandnagar Industries makes critical equipment for India’s nuclear power facilities.

Reliance Energy reportedly plans to invest additional Rs 12,000 crore in nuclear power capacity. It plans to install 2000 megawatt of nuclear power capacity.

Tata Power Company has tied up with some major nuclear equipment suppliers like Areva. It already has a relationship with Toshiba.

Historic day for India - PM

Political reactions flew thick and fast, though on expected lines after India won a waiver from the Nuclear Suppliers Group (NSG) in Vienna for indulging in nuclear commerce without signing the Nuclear Non-Proliferation Treaty (NPT).

Prime Minister Manmohan Singh termed the waiver a “historic day” for India even as Congress chief Sonia Gandhi congratulated him, External Affairs Minister Pranab Mukherjee the government for the diplomatic coup.

Congress party leader Digvijay Singh also termed this a historic day for India as it ended nearly 40 years of nuclear isolation.

The government’s new ally the Samajwadi Party termed the waiver as a great victory for India and said it would help the country in its development. “India needs development and not nuclear bombs,” SP General Secretary Amar Singh said, criticising the opposition parties for “beating around the bush.”

“It is obvious that the deal is good for the country, as countries such as China and Pakistan are opposing it,” he said. “The saddest opposition has come from the BJP which has always stood for the furtherance of India’s nuclear programme, now they are supporting countries like Pakistan and China,” he added.

The BJP said that they will continue to oppose the nuclear deal, and that the waiver granted by the NSG was a historic blunder for India. “We have forever forsaken the right to test nuclear weapons. China and Pakistan are getting stronger everyday and we have whistled away our right to test nuclear weapons,” said former External Affairs Minister Yashwant Sinha .

“We have been against this deal from the beginning and will continue to oppose it,” he added.

The Left declined to comment before seeing the draft of the waiver, but D Raja member of Parliament from the CPI said that the Left’s opposition to the deal still continues.

via Business Standard

BREAKING - Deal Done - NSG Waiver for India

India’s attempt to end its nuclear isolation on Saturday finally found triumph, as the NSG gave a clean waiver for the nuclear deal. An official statement confirming the end of India’s nuclear apartheid came after hard bargaining with the four major opponents China, Austria, New Zealand and Ireland.

The negotiations went down to the wire as the four countries looked set to scuttle India’s aspirations to join the high table with major nuclear powers.

It is believed that the decision finally to give India the go ahead was decided at the highest level. Reports coming in earlier suggested that US President Bush had to speak with Chinese President Hu Jintao to gather consensus. It is believed that the decision finally to give India the go ahead was decided at the highest level. Reports coming in earlier suggested that US President Bush had to speak with Chinese President Hu Jintao to gather consensus.

The first country to buy the Indian argument was Austria, which always spearheads all non-proliferation measures. Once Austria was convinced the others fell in line.

On D-Day today, several countries including China did not attend the meeting.

Immediately after the deal came through, President Bush called up Prime Minister Manmohan Singh to congratulate him.

BREAKING - India gets NSG Waiver

After marathon NSG discussions that spilled over to wee hours today (September 6) in Vienna, diplomats of the 45-member nuclear cartel today approved clean and unconditional waiver for nuclear commerce, a decision that can take the Indo-US nuclear deal forward. Earlier, consensus eluded the NSG for a clean waiver for India with China joining a clutch of countries having strong reservations, however, the US maintained that "significant progress" was made and remained optimistic over securing the crucial exemption. A waiver, which was expected to be a smooth sailing faced a stumbling block towards the end, as four countries had certain reservations.

via TIMES NOW

India nuked or was it ?

India’s stand on not linking the Indo-US nuclear deal with nuclear tests may have been contradicted by US President George W Bush in a letter he wrote to the US Congress. The 26-page letter links India’s commitment to abstaining from conducting a nuclear test to nuclear supplies. US based daily The Washington Post has revealed the contents of the ‘secret’ letter a day before the Nuclear Supplier Group is scheduled to meet over a waiver to India for nuclear trade.

PM Manmohan Singh has called for an emergency meeting with the Congress core committee to discuss the issue at 8.30pm in Delhi.

The letter’s contents are contradictory to what the Manmohan Singh led government has been insisting upon- that India’s testing of nuclear weapons will not come in way of uninterrupted supply of nuclear fuel under the nuclear deal.

To this effect, in August 2007, the PM had told Parliament, "The agreement does not in any way affect India's right to undertake future nuclear tests, if it is necessary."

However the letter, made public by Republican Howard L. Berman, Chairman of the House Foreign Affairs Committee, appears to be at variance with the stand. It says the United States would help India deal only with "disruptions in supply to India that may result through no fault of its own," such as a trade war or market disruptions.

"The fuel supply assurances are not, however, meant to insulate India against the consequences of a nuclear explosive test or a violation of nonproliferation commitments," the letter said.

The letter implicitly states the US administration had discretion to disrupt nuclear fuel supplies to India swiftly and that the supply assurances made by the United States are not legally binding, but simply a commitment made by President Bush.

The letter was a reply to 45 highly technical questions that US Congressmen had put to Berman's predecessor, the late Tom Lantos. However, since the subject was so sensitive, and particularly to UPA government because of the political debate in Parliament, it was kept secret. As per Berman, the contents have been made public now so that in case of an NSG nod, the US Congress is aware of all the information it has from Bush administration.

The NSG waiver for India is not appearing a smooth ride as a few nations - Austria, New Zealand, Netherlands, Ireland- had objected to the amended draft. Even China had on Tuesday voiced concerns and its Foreign Ministry had said in a statement that the NSG must "strike a balance between nuclear nonproliferation and peaceful use of energy".

While the BJP and CPM have been quick to slam the revelations, the government has distanced itself from the controversy saying none of clauses in the 123 treaty are binding on India’s nuclear programme. Congress spokesperson Manish Tiwari said, “This is said by Bush to the US Congress, and not our problem at all.”

He added that the treaty is extremely good and did not require a relook at any cost.

Result Preview, Savita Chemicals, KS Oils, Indo US Nuclear Deal, Bajaj Auto, Patel Engineering

Result Preview, Savita Chemicals, KS Oils, Indo US Nuclear Deal, Bajaj Auto, Patel Engineering

India-USA nuclear deal: Sharekhan Special dated November 17, 2006

India-USA nuclear deal

Key points

• On November 17, 2006 the US Senate passed the bill to implement civilian nuclear energy cooperation with India. During July 2005, India and the USA had reached an agreement on the separation of civil and military nuclear plants and technology transfer for civil nuclear plants.
• The Indo-US nuke deal brings a reliable source of nuclear technology that can be exploited to set up nuclear power plants in India. This in turn could possibly go a long way in quenching India's current and projected thirst for power. Needless to say that the companies like BHEL, Larsen & Toubro, KSB Pumps and Honeywell Automation that provide products and services for nuclear power plants would be the primary beneficiaries in this scenario.
• India's power generation today is approximately 15% below the actual consumption. As per the energy and resources institute (TERI) the projected economic growth of 7-8% over the next 20 years will quadruple India's energy needs.
• Coal, the main source of India's energy needs today, is peaking its exploitation and the gas supply from Iran via a pipeline is unlikely to materialise due to the US opposition.
• Hence if India's power generation has to keep pace with the burgeoning economy, nuclear power has to provide a significant component of it, as opposed to its current contribution of 3%. A very plausible scenario to look at is the building of nuclear power plants with the help of the USA.
  

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