The nation's largest oil firm Indian Oil Corp., or IOC, will be setting up a Rs.10,000 crore nuclear power plant in association with the Nuclear Power Corporation of India or NPCIL, media reports said, quoting IOC director of Business Development B.M. Bansal.
Bansal reportedly said the companies inked a memorandum of understanding for setting up at least one 1,000 MW nuclear power plant. He said that NPCIL would be operating the plant and would take at least 51% stake, while the company is considering taking a stake of 49% or 26%. He said that nuclear power gives IOC a good chance to work as an integrated energy firm. He also said that the company may set up its own nuclear plants in future.
IOC might invest ranging from Rs.1,000 crore to Rs.1,500 crore as equity in the project with NPCIL. Nuclear power project gives assured income unlike the refinery business that is highly volatile, said Bansal. He said other factors such as source of nuclear fuel and site would be decided in the next six months, adding that the company has asked NPCIL to involve in an approved project so that it is constructed by 2014.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.