CAG raps money erosion in commissioning and operation of Kudankulam plant

CAG finds non-transparency in availing of loans to the tune of Rs 1,000 cr from HDFC, lapses in rate fixation and undue benefits to foreign collaborating partners

Implementation of the first two units of the Kudankulam Nuclear Power Project in Tamil Nadu, by Nuclear Power Corporation of India (NPCIL) had several deficiencies, says the office of the Union comptroller and auditor-general (CAG).

That included avoidable payment of interest on borrowings, non-transparency in availing of loans to the tune of Rs 1,000 crore from HDFC, lapses in rate fixation and undue benefits to foreign collaborating partners. All resulting in losses of several thousands of crores.

Commercial operation of Unit I was done six months before getting a licnece for regular operation. Schedule dates for completion of the project were repeatedly