The Hindu Business Line : Thorium Power in tie-up talks with NTPC, NPCIL

US-based Thorium Power Ltd, developer of nuclear fuel technology, is in talks with Indian companies, including state-owned Nuclear Power Corporation of India Ltd and NTPC Ltd, to firm up partnerships to offer its proliferation-resistant, low-waste fuel technology here.

The company, which was part of the US delegation visiting India to explore opportunities arising from the Indo-US civilian nuclear deal, is hardselling the use of its technology by India's civilian nuclear reactors for achieving key non-proliferation targets.

Thorium Power's President, Mr Seth Grae, said that India has the potential to build at least 60 reactors of 1,000 megawatts each.

"At an estimated $2 billion per reactor, the potential for business crosses $100 billion ... Over and above this, there are business opportunities arising out of fuel supply and servicing contracts," he told Business Line.

Mr Grae met with the Commerce and Industry Minister, Mr Kamal Nath, the Power Minister, Mr Sushil Kumar Shinde, and the Minister of State in the Prime Minister's Office, Mr Prithviraj Chavan, during his visit. He also met the top brass of state-owned NTPC and some of the country's private sector firms that are waiting in the wings to enter the nuclear sector. Buoyed by the response from the current visit, Mr Grae plans another trip to India next month to take forward discussions.

"India is already working on a plan to build dozens of new reactors in the coming years and the vast majority of these reactors will be designed to use thorium fuels. We have found a lot of interest among all segments of the nuclear community here in the proliferation resistant, low-waste fuel technology that Thorium Power offers," Mr Grae said.

The company, which designs nuclear fuels, obtains patent protection on these fuels, and coordinates fuel development with commercial entities and Governments, hopes to offer licensing agreements for use of their fuel processing technologies.

Thorium Power has proliferation-resistant nuclear fuel technologies that can be used in reactors to achieve important non-proliferation goals and hence Indian companies might find useful, he said.