Parliament passes Bill to allow NPCIL cooperate with PSUs

New Delhi: Now Nuclear Power Corporation of India Limited can cooperate with other Public Sector in the nuclear field, with Parliament today passing a bill in this regard after government deducted fears that the step will allow FDI into the sector in atomic power production. The Atomic Energy Amendment Bill 2015 passed by Lok Sabha on December 14, got approval from the Rajya Sabha without any discussion. The law seeks to amend the 1962 Atomic Energy Act to change the definition of "government company" in the Act with a view to expand its scope by including such joint venture companies as may be formed between NPCIL and other PSUs, according to the statement of object and reasons. At present, only two PSUs --NPCIL and Bhartiya Nabhikiya Vidyut Nigam Limited , which are under the administrative control of Department of Atomic Energy, operate nuclear power plants in the country. While under the Act, a government company that is allowed to produce atomic energy is one in which at least 51 per cent of the paid-up share capital is held by the central government. Paid-up share capital is the capital received by a company from the issue of shares. This provision will allow for the formation of joint ventures between Nuclear Power Corporation of India Limited and other government companies. Under the Act, a license is required for acquisition, production, use, export and import of any plant designed for the production and development of atomic energy or research.