Reliance may foray into nuclear energy

Petrochemicals-to-gas conglomerate Reliance Industries Ltd is looking to enter nuclear energy, the Economic Timesreported on Monday, citing unnamed sources with knowledge of the matter.

The energy major is believed to be in talks with Bechtel, the largest US engineering firm, for a possible collaboration, the newspaper said.

RIL has indicated to the government that it is keen on generation and distribution of nuclear power,” it quoted an unnamed senior government official as saying, adding the plans are at a preliminary stage.

Reliance Industries Chairman Mukesh Ambani and his estranged younger brother Anil last month ended a pact that had prevented them to compete in each other’s turf.

Anil’s Group is into power generation, and the new agreement between the brothers frees Mukesh to invest in power, except gas-fired power.

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