700 million nuclear fuel deal between India & Russia

Russia – Moscow: on Wednesday Russia’s state-owned nuclear company said,Russia signed more than $700 million in deals with India to supply fuel capsules for India’s nuclear reactors.

 

India is trying to build new generation capacity to handle the increase in demand for energy with new projects. Russia, European states and the United Sates and few more major nuclear powers are scrambling to sell nuclear services to India.

 

Last September the 45-nation Nuclear Suppliers Group lifted a ban on nuclear trade with India for its refusal to join the Non-Proliferation Treaty (NPT). Russia’s state-owned nuclear company said in its statement, it was the first long-term nuclear fuel contract signed with India "The total cost of contracts is more than $700 million."

 

In the southern Indian state of Tamil Nadu Russia is building two 1,000 megawatt nuclear reactors at the Kudankulam, and plans to build plants in other parts of the country.