Reliance Industries eyeing nuclear power generation?

Reliance Industries Limited, RIL is looking to foray into nuclear power generation, reports CNBC-TV18 quoting sources. RIL is in talks with a French nuclear power company. RIL and the French company is looking for eight-ten sites in India. RIL has said that it will not comment on market speculation, and has strongly denied a foray into nuclear power generation at this point.

Mukesh Ambani, Chairman, RIL had said at the company’s Annual General Meeting that, “The second potential avenue for growth and transformation is in alternative energy. This is a natural extension of our conventional energy portfolio. I will be happy to share with you details once we have a concrete value creating plan in place.

It is not yet known who RIL is talking to, but the company does tend to go and forge partnerships with the largest companies in the world.

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