Engineering and construction conglomerate Punj Lloyd has tied up with US-based Thorium Power Ltd to explore nuclear fuel generation possibilities in India. Under the joint venture agreement signed between the two companies, several projects will be set up in the area of nuclear fuel in India and neighbouring regions. The collaboration with Thorium Power is expected to benefit Punj Lloyd largely as the US company is the leading provider of non-proliferative nuclear fuel technology.

 

Talking to media, the president and CEO of Thorium Power, Seth Gare stated that the joint venture company will explore full range of options including non-proliferative fuel designs, providing advisory services to emerging national nuclear programmes and exploring development and investment opportunities in the nuclear industry.

 

According to Atul Punj, chairman Punj Lloyd Group, India has the second largest deposit of thorium in the world. The country can become self reliant with its own fuel in the long run if the thorium technology is launched successfully, he added. The assistance from Thorium Power with its nuclear fuel technology will fulfill India's long standing commitment to the Thorium fuel cycle.