New Delhi : In a major relief to component suppliers in the nuclear energy sector, government today said they will not have any ‘obligation’ if there is any liability. However, the major suppliers, for instance companies building the reactors, will not be absolved if there is such an eventuality.

India is also looking at approaching foreign market as the domestic banks are not equipped to give the massive amount of loan required to build an atomic reactor. “Suppliers (who) are involved whether it is Indian or theirs (foreign)…then we will mention it in the contract that they will have no obligation (in case of any liability) as ultimately it is we who are designing, fabricating, constructing, commissioning,” Sekhar Basu, Secretary, Department of Atomic Energy, stated on Tuesday.

He was speaking at the 7th Nuclear Energy Conclave here organised by the India Energy Forum.

“Indian reactors are designed, fabricated, quality assured, erection, commissioning under our supervision. So, there is no point in calling somebody else a supplier. Because whatever he has supplied and whatever he has made is as per our requirement. So we are responsible for that and this has to come in the document by which we will doing the purchase or get the item fabricated,” he said.

Basu, who is also the Chairman of Atomic Energy Commission, however, added that companies building the reactor will not be absolved under this.

“On the foreign front, suppliers have to take the insurance of Rs 1,500 crore. I am told for five years it is not much and it is around Rs 50-70 crores. It’s a small fraction in comparison to the cost of the reactors and if you are taking multiple reactors, the cost remains the same,” he added.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in