REL to foray into nuclear power generation

Mumbai, Mar 6 (UNI) The Anil Ambani-controlled Reliance Energy would get into nuclear power generation on a private-public partnership basis and discussions have already been initiated in this regard with the Nuclear Power Corporation as well as some US companies.

Disclosing this at a media conference here, Reliance-ADAG chairman Anil Ambani, howev er, said for pursuing nuclear-based power generation the current regulations (where the public sector holding has to be 51 per cent) have to be amended to facilitate a 100 per cent participation of the private sector in this new opportunity.

The group, he said, is also exploring opportunities in transportation of gas and energy through pipeline. In this context, he said that ''we have a non-compete pact with Reliance Industrides as far as distribution of gas in the two metros of Mumbai and Delhi are concerned.'' He said separation of his businesses from the Mukesh Ambabi-led RIL ''has created unprecedented value for over two million Reliance shareholders in the last eight months, generating incremental wealth of over Rs. 70,000-crore.'' The Anil Dhirubhai Ambani Group comprising Reliance Communications Ventures, Reliance Natural Resources, Reliance Energy and Reliance Capital Ventures today emerged among the top three business houses in the country in terms of net worth of Rs 25,000-crore, operating profit of over Rs 5,000 crore and market capitalisation of over Rs 86,000 crore, he said.

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