Date:24/08/2007 URL: http://www.thehindubusinessline.com/2007/08/24/stories/2007082452161000.htm

Back CCEA nod for setting up new uranium mine, plant

Our Bureau

New Delhi, Aug. 23 The setting up of a new uranium mine and processing plant at the cost of Rs 1,106.29 crore was approved by the Government today. The uranium project is to come up at Tummalapalle in Cuddapah district, Andhra Pradesh. The plant will be set up by Uranium Corporation of India Ltd.

Briefing newspersons after the Cabinet Committee on Economic Affairs (CCEA) meeting, the Finance Minister, Mr P. Chidambaram, said that the setting up of the mine will meet the uranium fuel requirements of the nuclear power programme. The mine is likely to be commissioned within 30 months and the processing plant in 36 months.

The Cabinet also approved the continuation of the concession scheme on sale of de-controlled phosphatic and potassic fertilisers for the year 2007-08 with some modifications. As per the decision, the maximum retail prices of DAP, MOP and various grades of complex fertilisers are to be continued at the same level as notified by the Department of Fertilisers with effect from March 12, 2003.

NEPA revival

The Cabinet approved the revival of NEPA Ltd through a joint venture partnership involving the private sector by disinvestment of government equity. The Cabinet also approved the introduction of NEPA Ltd (disinvestment of ownership) Bill 2007 in the next session of Parliament. It also approved the setting up of six National Institutes of Pharmaceutical Education and Research.