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RIL gears up for bigger play in nuclear sector

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RIL gears up for bigger play in nuclear sector

MUMBAI: Reliance Industries' nuclear play just got another boost. Even as Australian mining company UXA Resources , where RIL acquired a 49 % stake in 2007, just announced discoveries of new high grade uranium targets, :cheers::cheers: it has simultaneously strengthened its presence in the nuclear sector by acquiring a minority stake in US-based nuclear design and engineering company, Terra Power LLC.

That's not all. Australia's decision to lift its ban on uranium sales to India is also expected to help UXA Resources find newer ready markets in the country. :cheers: RIL's acquisition in Terra Power, for an undisclosed sum, was described by a company spokesman as one of its series of investments in the broader energy sector.


" Reliance Industries, through one of its subsidiaries , has made a minority investment in Terra Power LLC," an RIL spokesperson said. He, however, declined to comment on the size of the deal. Ambani will join the board of Terra, which includes Microsoft chairman Bill Gates and Silicon Valley venture capitalist Vinod Khosla. RIL shares closed up 1% on BSE at Rs 755.

India does not allow private sector participation in uranium exploration and mining. Nuclear power generation is also reserved for the public sector.

RIL gears up for bigger play in nuclear sector - The Times of India

Billionaire Ambani Invests in Gates-Funded Nuclear Company - Businessweek

Reliance to fund new generation nuclear reactor along with Gates, Vinod Khosla, ex MS Honcho - Economic Times
 
^^^^^^^^^ It will also be good if they get latest technologies and purchase uranium abroad then they can invest in R&D in later on stages.
 
^^^^^^^^^ It will also be good if they get latest technologies and purchase uranium abroad then they can invest in R&D in later on stages.

Currently R&D in Nuclear tech is the monopoly of the govt.

We're far off from the system in the US where even universities have experimental reactors.
 
i doubt that RIL will be able to enter the nuke space so soon . for one its not yet allowed . doubt the laws will be changed fast enough :)
 
i doubt that RIL will be able to enter the nuke space so soon . for one its not yet allowed . doubt the laws will be changed fast enough :)

Link it the statement by Mukesh Ambani about investing 14 billion USD into Indian economy and things start looking clearer..
 

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