financetom
Politics
financetom
/
Politics
/
Russia signs pact for six nuclear reactors on new site in India
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Russia signs pact for six nuclear reactors on new site in India
Oct 5, 2018 3:06 PM

India and Russia on Friday signed a pact to build six more nuclear reactors at a new site in India following summit talks between their leaders in New Delhi.

Russian President Vladimir Putin and Indian Prime Minister Narendra Modi also agreed to cooperate on India's plan for a manned space mission.

Russian state-owned reactor manufacturer Rosatom said in a statement that the two countries want to build six Russian-design nuclear reactors on a new site in India, boost nuclear cooperation in third countries and new nuclear technologies and are considering building nuclear plants together.

The firm said Russia would offer to build its third-generation VVER reactor on the new site and would increase the level of participation of Indian companies in the project.

A Rosatom official told Reuters the pact is not a firm contract yet, but an agreement to work towards a contract.

India has not chosen the new site yet, which could be controversial as the country has seen vehement protests against new nuclear sites.

If confirmed, the agreement would be one of the biggest nuclear industry deals in recent years, and would bind the two countries for decades.

Two Russian-built VVER-1000 reactors have been in commercial operation in Kudankulam, southern India, since 2014 and 2017 respectively. Construction on two more started last year with a target for commercial start-up in 2025 and 2026.

Last year, the Russian and Indian governments signed an agreement to build reactors 5 and 6 on the site and Putin said at the time that Russia is ready to build a dozen reactors in India over the next 20 years.

"We expect to start building a series of new units at a second site in India in the near future," Rosatom Director-General Alexey Likhachev said in a statement.

Rosatom has become the world's largest nuclear reactor builder as the financial problems of the two big Western firms Westinghouse Areva have crimped their ability to develop nuclear plants abroad.

Rosatom operates 35 reactors in Russia with a combined capacity of 28 gigawatt and says it has a portfolio of 36 nuclear power plant projects in 12 countries.

Westinghouse and Areva, now owned by EDF, have for years negotiated deals to build reactors in India but have made little progress, partly because Indian nuclear liability legislation gives reactor manufacturers less protection against claims for damages in case of accidents.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Lok Sabha passes Forest (Conservation) Amendment Bill — All you need to know
Lok Sabha passes Forest (Conservation) Amendment Bill — All you need to know
Jul 11, 2023
Activists have contended that words like "ecotourism facilities" and "any other purposes" are too vague and may pave the way for widespread exploitation and misuse.
Govt blames inaction by AAP in Punjab, Delhi for bad air quality
Govt blames inaction by AAP in Punjab, Delhi for bad air quality
Nov 6, 2023
Accusing Kejriwal of being busy with election campaigning in poll-bound states and waking up to the situation late, Minister of State for Consumer Affairs, Food, and Public Distribution, Ashwini Kumar Choubey, said that the Centre had held a meeting with Chief Secretaries and senior officials from four North Indian states on 20th October to discuss measures to reduce air pollution, which he claims weren't adopted by the AAP-led governments.
What is the debate over Biodiversity Bill, likely to be tabled in monsoon session of Parliament
What is the debate over Biodiversity Bill, likely to be tabled in monsoon session of Parliament
Jul 12, 2023
The new bill exempts registered AYUSH practitioners and people accessing codified traditional knowledge, from sharing benefits with local communities or giving prior intimation to state biodiversity boards before accessing biological resources.
Brahmapuram waste plant fire: Kerala Assembly witnesses uproarious scenes, LoP says CM running away from issue
Brahmapuram waste plant fire: Kerala Assembly witnesses uproarious scenes, LoP says CM running away from issue
Mar 13, 2023
A fire that broke out at the waste treatment plant in Kochi on March 2, 2023, continues to spread toxic fumes even after 11 days of the incident. The Kerala government has said that 95 percent of the fire has been extinguished, but the smoke from the landfill has not entirely subsided. 
Copyright 2023-2025 - www.financetom.com All Rights Reserved