In a bid to explore nuclear fuel generation possiblities in the country, engineering and construction firm Punj Lloyd has entered into an agreement with US-based Thorium Power.

With this, the two companies would be able to set up joint venture projects in the area of nuclear fuel in India and neighbouring regions.

While giving this information, Seth Gare, president and CEO, Thorium Power said, “We will explore full range of options available to both our companies in areas as diverse as marketing our non-proliferative fuel designs, providing advisory services to emerging national nuclear programmes and exploring development and investment opportunities in the nuclear industry.”

Speaking on this, Atul Punj (Chairman Punj Lloyd Group) said, “India has the second largest deposit of thorium in the world and the successful launch of the thorium technology will make India self reliant with its own fuel in the long run.”

Experts believe that the agreement will help the Indian company to expand its consulting activities for the development of nuclear power regionally or worldwide.

Punj Lloyd Group offers integrated design, engineering, procurement, construction and project management services for the energy, infrastructure and petrochemical sectors.

On the other hand, Thorium Power, a US-based nuclear energy company, provides comprehensive advisory services for emerging nuclear programmes.