Nuclear plants in India
Source: Agencies |
December 7, 2010, Tuesday
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INDIA and France signed a multibillion agreement yesterday to build two nuclear power plants in India, as French President Nicolas Sarkozy worked to drum up business for his nation during his four-day visit to India.
Areva SA, one of France's main nuclear power companies, will build two European pressurized reactors of 1,650 megawatts each at Jaitapur in the Indian state of Maharashtra.
The agreement, valued at about US$9.3 billion, was signed in the presence of Sarkozy and Indian Prime Minister Manmohan Singh.
The deal marked the first two of 20 nuclear reactors India wants to build to meet its soaring energy demand.
Foreign governments have been courting India to try to get a piece of that lucrative market, but there have been concerns that India's recently passed liability law might prove too onerous for international companies to risk entering the market here.
Indian officials assured France that their liability laws were in keeping with international standards and the security of nuclear operators was assured, a French official said.
Sarkozy and Singh later met to discuss regional security, trade and investment.
The talks were also expected to touch on plans for the structural reform of the international monetary system through the G20, which is currently headed by France.
No defense agreements are expected during the visit, but Sarkozy is likely to push for French companies to win contracts to supply military hardware.
French companies are negotiating to upgrade 51 Mirage-2000 jet fighters in the Indian air force. India is also in the market to buy 126 fighter jets, a deal worth US$11 billion, and about 200 helicopters worth another US$4?billion.
According to international defense experts, India is expected to spend up to US$80 billion between 2012 and 2022 to upgrade its military capabilities.
Areva SA, one of France's main nuclear power companies, will build two European pressurized reactors of 1,650 megawatts each at Jaitapur in the Indian state of Maharashtra.
The agreement, valued at about US$9.3 billion, was signed in the presence of Sarkozy and Indian Prime Minister Manmohan Singh.
The deal marked the first two of 20 nuclear reactors India wants to build to meet its soaring energy demand.
Foreign governments have been courting India to try to get a piece of that lucrative market, but there have been concerns that India's recently passed liability law might prove too onerous for international companies to risk entering the market here.
Indian officials assured France that their liability laws were in keeping with international standards and the security of nuclear operators was assured, a French official said.
Sarkozy and Singh later met to discuss regional security, trade and investment.
The talks were also expected to touch on plans for the structural reform of the international monetary system through the G20, which is currently headed by France.
No defense agreements are expected during the visit, but Sarkozy is likely to push for French companies to win contracts to supply military hardware.
French companies are negotiating to upgrade 51 Mirage-2000 jet fighters in the Indian air force. India is also in the market to buy 126 fighter jets, a deal worth US$11 billion, and about 200 helicopters worth another US$4?billion.
According to international defense experts, India is expected to spend up to US$80 billion between 2012 and 2022 to upgrade its military capabilities.
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