Govt sets up Rs 1500 crore nuclear insurance pool


New Delhi: The government has launched an insurance pool to the tune of Rs 1,500 crore which is mandatory under the Civil Liability for Nuclear Damage Act (CLND).This was announced by Minister of State in the Department of Atomic Energy Jitendra Singh in New Delhi on Saturday, noting that several projects such as the long-pending Gorakhpur Haryana Anu Vidyut Pariyojna (GHAVP) that were held up in its absence, are now expected to move forward after setting up of the pool.

R K Sinha, Secretary in the Department of Atomic Energy, said this would be a solution for suppliers’ concerns about liability from nuclear risks. “The GHAVP was supposed to be a pressurised heavy water reactor which was sanctioned by the previous govt. It had met with some problems there were problems of tenders not getting matured due to absence of an insurance pool. The launch of the pool would now enable the concerned parties to come forward for the project,” Singh said.

Highlighting another aspect of the move, Singh said that it would also help in bringing North Indian states into the fold of the nuclear industry. “This would give the atomic energy programme a pan-Indian image.” Singh, who is also the Minister of State in the Prime Minister’s Office, said the pool would help the government in achieving Prime Minister Narendra Modi’s “vision of tripling energy generation from nuclear sector in the next five years”.