IOC formally inks pacts with Nuclear Power Corp

Mumbai, Jan 13 (PTI) After announcing their joint venturein late 2009, Indian Oil Corporation today formally enteredinto an agreement with the Nuclear Power Corporation to set uppower plants across the country.

With this agreement, the Corporation would be forayinginto nuclear power generation, a press release issued herelast night stated.

The state-run oil major has already forayed intorenewable energy sources like solar, wind, bio-fuels andhydrogen. IOC recently bagged a project in a competitivebidding to set up a 5.5 MW solar power project at Barmer,Rajasthan, the release added.

The nuclear power industry is undergoing rapid expansionwith plans to increase generation to 63,000 MW by 2032. PTIPSK BEN DK RAH