The Nuclear Power Corporation of India today said it has tied up funds for its Rs 33,000 crore nuclear power project in Maharashtra to be set up under the Indo-French civil nuclear cooperation.
"For setting up the first two units of 1,650 Mw European Pressurised Reactors, we will be requiring Rs 33,000 crore. Of this, Rs 15,000 crore will come from external credit assistance (ECA)," NPCIL Chairman and Managing Director S K Jain told reporters here.
The ECA will be from a consortium of five French banks, including BNP Paribas, Societe Generale, HSBC and Calyon.
While NPCIL would infuse an equity of Rs 10,000 crore for the Jaitapur project, the remaining amount will be borrowed from both Indian and French financial institutions, he said.
Both India and France have agreed to set up six units of EPRs over the next 12 to 15 years, and the total funding needs for setting up 10,000 Mw capacity is pegged at Rs 1,00,000 crore, he said.
Once the first two units come up, the Corporation will replicate the fund raising model, Jain said.
Jain said although the land acquisition process in Jaitapur will begin from tomorrow, the statutory and environment clearances and public hearing are expected to happen soon and he hoped that at least the building of the township for the French Technical experts will begin by next year.
