MUMBAI // When American politicians voted through an Indian nuclear co-operation deal on Wednesday, it ended a defining political battle which threatened to topple the government of Manmohan Singh, the prime minister.
But for the scientists and engineers in Mumbai's Department of Atomic Energy and state nuclear firm Nuclear Power Corporation of India (NPCIL), this week is when the work really starts.
Over the next 18 months, NPCIL hopes to strike deals worth up to US$60 billion (Dh220.8bn) with Russia's Rosatom, France's Areva and American-based Westinghouse and GE. "The first company will be Rosatom," said Sudhinder Thakur, the director of corporate planning at NPCIL. "We already have a model and we have already done some working with them, so it will be faster. Then it will be Areva, and after that Westinghouse and GE."
Under the NPCIL plan, each company will be awarded a site where they will build two reactors initially, starting construction within the next five years. This will be followed by another two reactors on each site, built with a gap of about three years. NPCIL aims to build 24 reactors on its east and west coasts between now and 2025.
Unlike the UAE, which has decided to choose a single reactor design for its entire programme, India is looking for deals with four reactor designers. Dr Pradeep Kumar, a senior fellow at Teri, an Indian energy think tank, argues that India needs to generate 70 gigawatts (GW) of new nuclear capacity by 2030, up from just 4.6 GW today.
If this is achieved, it will still leave nuclear power generating less than 10 per cent of the 800 GW of total electricity demand, according to Teri projections. "The resource requirements to implement this are huge, not just in terms of money, but in terms of other requirements." Dr Kumar said. "So I think the private sector has a big role to play in this. It can't be done by the public sector."
The International Energy Agency projects that India needs to invest $1,250bn in its energy infrastructure between now and 2030, of which about 76 per cent would be spent on power.
At present, private companies are not permitted to develop nuclear power plants, so the international companies will work as design contractors for NPCIL, licensing their technologies and working with Indian engineering firms such as Larsen and Toubro and Bharat Heavy Electricals (BHEL) to build the plants.
Russia and India will begin talks this month on a deal to supply between two and four of its 1000 megawatt (MW) plants using the Russian VVER design at the Kudankulum site, where it is already working on two plants to be commissioned next year. Mr Thakur said a deal could be signed with the Russians early next year.
The nuclear deal India signed with France on Tuesday could be followed by a reactor supply deal with Areva within 12 to 18 months, he predicted. France is hoping to strike an initial deal to build two of its European Pressure Reactors (EPR), each of which could generate 1,600 MW, with a further set of plants possible later on. Areva has already informally been allotted a site at Jaitapur, on India's west coast south of Mumbai.
"That is the site for the French reactors," said Mr Thakur. "It's decided, but not declared." He said NPCIL had already begun work on the site, sending staff there to begin acquiring the land.
"Jaitapur is quite an advanced site," he said. "Some preparatory work on land acquisition is going on, some notification to say that a nuclear power plant will come up. It's no more greenfield."
Mr Thakur said it would take longer to agree deals with Westinghouse and GE, as tight controls on the transfer of sensitive US technology to other countries meant that no technologies could be discussed which were not already in the public domain. It was only now that the Senate had passed the bill that genuine talks could begin.
Westinghouse is aiming to initially supply India with two AP1000 reactors and GE aims to supply its Boiling Water Reactor (BWR) design.
The passing of the bill ends the ban on Indian involvement in international nuclear trade that began when it tested a nuclear bomb in 1974, making India the first country accepted into the global nuclear trade without signing the nuclear non-proliferation treaty.
When the US Congress approved the deal on Saturday, Mr Singh said: "India will be liberated from the constraints of technology denial of 34 years. The civilian nuclear co-operation is in the interest of India, in the interest of the US and in the interest of the world at large."
Mr Singh signed the original deal with George W Bush, the US president, back in 2005, with a detailed agreement completed in July last year. But fierce opposition from India's Communist Party, who were then allies of the ruling United Progressive Alliance, left the deal frozen for more than a year and threatened at one stage to bring down the government. But since Mr Singh wrong-footed the Communists in July with a sudden new alliance with the populist Samajwadi party, the pace has been fast.
He won a crucial confidence vote in the Indian parliament on July 2, struck a deal with the International Atomic Energy Authority on Aug 1, which promotes the peaceful use of nuclear power, and won a waiver from the Nuclear Suppliers' Group, the group of nuclear trading nations set up after India's 1974 test on Sept 6. The most rapid benefit India will see from the bill will be an end to the shortage of supplies of uranium fuel which have kept NPCIL's reactors operating at just 40 per cent of their full capacity.
Officials from Canada's Department for Foreign Affairs and International Trade are planning to send a delegation to India, where they will discuss fuel supplies. Canada is the world's largest exporter of uranium, but India will need to agree to a new bilateral deal and see it passed through the Canadian parliament before it can receive supplies.
India is also considering supplies from Kazakhstan, Mongolia, US, South Africa, Central Africa and Niger. India's existing nuclear programme is based on Canada's Candu reactors, which Canadian nuclear power company AECL supplied before the 1974 ban. Including the two Russian plants, NPCIL has five nuclear power plants under construction. It bought one new reactor into production last May, expects to bring two more on line next month and in December, and another in March next year.
By 2012, it plans to build a further eight 700-MW reactors. It is also constructing a 500-MW fast breeder reactor, which it expects to begin production in March 2011.
The fast-breeder reactor is central to India's three-stage nuclear programme, which will eventually use fast-breeder reactors to irradiate thorium, the radioactive element of which India holds roughly 25 per cent of world reserves, allowing it to be turned into nuclear fuel.
Indian private sector companies are also lobbying hard for the laws to be changed to allow them to launch their own nuclear plants. Reliance Power, GMR and GVK have all said that they are in discussions with reactor vendors.
business@thenational.ae
Company%20Profile
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Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
Company%20Profile
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
'The Lost Daughter'
Director: Maggie Gyllenhaal
Starring: Olivia Colman, Jessie Buckley, Dakota Johnson
Rating: 4/5
UAE SQUAD
Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani
Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh
Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani
Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
One in four Americans don't plan to retire
Nearly a quarter of Americans say they never plan to retire, according to a poll that suggests a disconnection between individuals' retirement plans and the realities of ageing in the workforce.
Experts say illness, injury, layoffs and caregiving responsibilities often force older workers to leave their jobs sooner than they'd like.
According to the poll from The Associated Press-NORC Centre for Public Affairs Research, 23 per cent of workers, including nearly two in 10 of those over 50, don't expect to stop working. Roughly another quarter of Americans say they will continue working beyond their 65th birthday.
According to government data, about one in five people 65 and older was working or actively looking for a job in June. The study surveyed 1,423 adults in February this year.
For many, money has a lot to do with the decision to keep working.
"The average retirement age that we see in the data has gone up a little bit, but it hasn't gone up that much," says Anqi Chen, assistant director of savings research at the Centre for Retirement Research at Boston College. "So people have to live in retirement much longer, and they may not have enough assets to support themselves in retirement."
When asked how financially comfortable they feel about retirement, 14 per cent of Americans under the age of 50 and 29 per cent over 50 say they feel extremely or very prepared, according to the poll. About another four in 10 older adults say they do feel somewhat prepared, while just about one-third feel unprepared.
"One of the things about thinking about never retiring is that you didn't save a whole lot of money," says Ronni Bennett, 78, who was pushed out of her job as a New York City-based website editor at 63.
She searched for work in the immediate aftermath of her layoff, a process she describes as akin to "banging my head against a wall." Finding Manhattan too expensive without a steady stream of income, she eventually moved to Portland, Maine. A few years later, she moved again, to Lake Oswego, Oregon. "Sometimes I fantasise that if I win the lottery, I'd go back to New York," says Ms Bennett.
The%20Specs
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If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
Super Saturday race card
4pm: Mahab Al Shimaal Group 3 | US$350,000 | (Dirt) | 1,200m
4.35pm: Al Bastakiya Listed | $300,000 | (D) | 1,900m
5.10pm: Nad Al Sheba Turf Group 3 | $350,000 | (Turf) | 1,200m
5.45pm: Burj Nahaar Group 3 | $350,000 | (D) | 1,600m
6.20pm: Dubai City of Gold Group 2 | $300,000 | (T) | 2,410m
6.55pm: Al Maktoum Challenge Round 3 Group 1 | $600,000 | (D) | 2,000m
7.30pm: Jebel Hatta Group 1 | $400,000 | (T) | 1,800m
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SPECS
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The biog
Favourite book: Homegoing by Yaa Gyasi
Favourite holiday destination: Spain
Favourite film: Bohemian Rhapsody
Favourite place to visit in the UAE: The beach or Satwa
Children: Stepdaughter Tyler 27, daughter Quito 22 and son Dali 19
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
COMPANY%20PROFILE
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A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
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Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan
Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri
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Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded