Tsuen Wan International: Massive uranium deposit in India could be world’s biggest.

July 19, 2011 - PRLog -- Tsuen Wan International has learned from report in the Times of India, Srikumar Banejee secretary at the Department of Atomic Energy in India that the Tumalappalli mine in Andhra Pradesh state has confirmed 49,000 tonnes of ore and there are indications that it could hold reserves totaling three times its current size.

"If that be the case, it will become the largest uranium mine in the world," Banerjee, said, adding production is expected to begin in six months.

The mine's proven reserve is enough to support a 8,000 mega watts nuclear power plant for 40 years, the Indian media report went on to say.

India intends to increase its nuclear power generation capacity from 4.7 GW at present to 7.3 GW by the end of March 2012 and 20 GW by 2020, Tsuen Wan International was informed.

In order to achieve this, the country has signed a landmark nuclear power agreement with the U.S. and opened up its estimated $150 billion nuclear power market to private reactor builders such as GE and Areva.

According to information available to Tsuen Wan International, India, which has a total installed power generation capacity of 164 GW, intends to increase it to 187 GW by the end of March 2012. Even this target is modest, given a 12% peak-hour power shortfall that crimps the nation's near 9% economic growth.

# # #

Tsuen Wan International is a leading independent investment company, based in the heart of Hong Kong. Tsuen Wan International offers a variety of investment products for institutional, corporate and high net worth investors in equity debt and FX markets.