International banks keen to fund Jaitapur nuclear project: NPCIL

Nuclear Power Corporation of India (NPCIL) has said that a large number of international banks have given commitment to finance the proposed Jaitapur nuclear power project in coastal Maharashtra.

The project is facing opposition from locals, as well as environmentalists.

"In fact, the commitments received are far more than the amount of debt-funding required for the project," NPCIL said in a statement issued in Mumbai reacting to the claim made by Greenpeace that some international banks had expressed inability to fund the project.

"International banks are keen to fund Jaitapur Project, and to be associated with NPCIL. None of these banks expressed any inability to fund this project. The French authorities are also backing the funding through their export credit agencies," NPCIL said.

The Jaitapur Project envisages setting up of 2x1650 MW power plant in the first phase, in technical cooperation with the French company AREVA. The project is planned to be set up with a Debt to Equity ratio of 70:30, the NPCIL release said.