NPC plans Rs 1,500-crore fund for civil liability
BS Reporter / Mumbai October 12, 2010, 0:51 IST

State-run Nuclear Power Corporation (NPC), which is engaged in increasing nuclear capacity to 63,000 Mw by 2032 from the present 4,560 Mw, would set up a fund of Rs 1,500 crore to take care of supplier liabilities. However, it has told the central government it was against nuclear insurance wherein foreign reinsurers would be brought in by Indian firms and be entitled to inspect the projects.

NPC director Jagdeep Ghai told reporters on Monday, “NPC, in the wake of passage of the civil nuclear liability bill, will set up a corpus of Rs 1,500 crore to provide financial security, from its cash reserve of Rs 12,000 crore. By the new law, it is NPC as an operator that will first pay up to Rs 1,500 crore. If the amount exceeds this, NPC will be entitled to get that amount from the Government of India.”