Westinghouse Nuclear Project in India Still Alive

The bankruptcy filing at  Westinghouse Nuclear threatened to scuttle the multi-billion-dollar reactor deal made by former U.S. President Barack Obama and India’s Prime Minister Modi during the Washington summit last June, , Westinghouse CEO Jose Gutierrez was in India for talks with state-run National Power Corp of India Ltd and the Department of Atomic Energy that reports to Prime Minister Narendra Modi.

India’s Larsen & Toubro, a potential partner that has signed a memorandum of understanding with Westinghouse to supply nuclear plant elements and do civil works, still views the India project as viable.”As long as the guarantees are in place, I see no reason why this won’t go ahead,” Shailendra Roy, head of L&T’s power business, told Reuters,.

Westinghouse Electric Company

The Export-Import Bank of the U.S. however, has lacked a quorum on its board of directors, preventing it from issuing loans over $10 million, and this may also slow down the financing of any deal.

 

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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