India likely will be awarding over $20 billion in nuclear energy-related contracts to American companies next week
– By Thomas Cheplick –
GE's Hitachi Nuclear Energy and Westinghouse Co., a subsidiary of Tokyo’s Toshiba Corp., are likely to be among the top companies bidding in India for over $20 billion in announced nuclear energy contracts.
India is planning to make two announcements starting next week granting over $20 billion in nuclear energy contracts to American companies that can help the country build more nuclear power plants.
However, Washington wants U.S. companies next week to be in a position where they are exclusively the ones tasked by the Indians to sell nuclear reactors to them.
Ted Jones, the director of the U.S.-India Business Council, believes next week will be vital for the commercial nuclear sector in America.
“This is a big and encouraging step forward for U.S. commercial nuclear suppliers,” he said.
The Indian government has already promised that American companies will get to work on at least two proposed nuclear power plants in India.
According to analysts, over 30 American nuclear energy companies have expressed a desire to do business in India.
Vaughn Gilbert, spokesman for Westinghouse, says his company is "very interested in the market in India."
"We feel our nuclear power plant is ideally suited for that market and our business model, which is to build infrastructure and localize it, is a benefit that others may not have," Gilbert said.
American nuclear energy companies cannot complete so-called "final investment" in India until the Indian Congress in Delhi approves legislation protecting nuclear energy construction companies from lawsuits if a nuclear accident occurs after the plant has been constructed.
Danny Roderrick of GE-Hitachi thinks that will be only a matter of time.
“We are encouraged that the U.S. and Indian governments are giving serious attention to fulfilling the promise of civilian nuclear cooperation between the two nations," Roderrick said.