Prime Minister Manmohan Singh on Monday asked South Korean businessmen to help India expand its burgeoning solar and nuclear power sectors by investing in these environment-friendly technologies.
“We are committed to increasing energy efficiency and the share of renewables, including solar and nuclear power, in our energy mix,” Dr. Singh told a group of top Korean CEOs here.
Among the CEOs present was Kim Joong-Kyum of the Korea Electric Power Corporation (KEPCO) which has interests in nuclear power that meets 45 per cent of Korea’s electricity requirements.
“There will be large business opportunities and I am aware of Korean capabilities in environmentally friendly technologies,” the Prime Minister said at a meeting organised by Korean industry chambers.
South Korean President Lee Myung-bak, during a bilateral meeting with Singh on Sunday, had requested that his country be allocated a site in India to build nuclear reactors.
Apparently sensing the concerns of the Korean businessmen with regard to the much-delayed $12 billion Posco steel project in Odisha, the Prime Minister told the CEOs that “our processes can be slow but there are effective mechanisms for resolution of problems and differences and a strong rule of law.”
“The government is keen to move forward with the Posco project and there is some progress in this regard. I believe that India is a stable and profitable long-term investment opportunity,” he said.
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