Nuclear Power Corporation of India Limited (NPCIL) is planning to set up 2X700 MW nuclear power project at Gorakhpur site in Fatchabad district of Haryana. NPCIL has already sought the approval of Cabinet Committee on Security (CCS) for the purpose. NPCIL is currently setting up four reactors of 700 MW at Kakrapar, Gujarat and Rawatbhata, Rajasthan. Natural uranium oxide or slightly enriched uranium is proposed to be used as fuel along with heavy water as coolant and moderator for the reactor.
NPCIL which has already set up 4,460 MW indigenous Pressurised Heavy Water Reactors (PHWR) technology, estimates the cost of the proposed plant at Rs. 20,594 crore to be funded with a debt equity ratio of 70:30. NPCIL plans to issue tax free bonds at the rate of 8.5% to finance the project cost which will bring down the interest during construction period substantially. Equity funding by the government will be to the extent of Rs. 6,179 crore.
NPCIL expects to commission the first unit in 63 months from the zero date and the second unit in six months after the commissioning of the first unit. If all milestones are met the first unit may go critical by September 2020.