A trade mission from the U.S. nuclear companies will visit India in December to check out potential large scale deals. They will meet with Indian government officials and the top brass from Indian nuclear companies.
It is interesting to note that Japan also has a group in India at the moment.
They are all there of course to get in on India’s rapidly expanding nuclear industry.
And America in October signed a deal to allow US companies to do technological and supply business with India.
So the race is on!
How much is the business potentially worth? $US150 billion over the next 25 years .
The CEO of GE-Hitachi (GEH) is quoted on the news wires as saying, "The trade mission is a historic step forward in promoting civilian nuclear cooperation between the world's largest democracies. We look forward to exploring opportunities that hold great promise, not only for our company and shareholders, but also economic opportunities that will create jobs, increase energy availability and improve the lives of the people of our two great nations."
Apparently the Russians have also had nuclear energy people in India during this month.
The impact of continuing developments in India, China and Europe will soon have a flow on effect to demand and the contract price of uranium.
Look out for a re-rating of Alliance Resources (AGS) and its B4M project here in South Australia Its partners, Heathgate, are of course very well connected in the nuclear business.