Nuclear plant: India commits to allot site for Russia

Nuclear plant: India commits to allot site for Russia

Prime Minister Narendra Modi addresses the India-Russia Business Summit as Russian president Vladimir Putin (L) and Union Commerce and Industry Minister Suresh Prabhu (C) look on, in New Delhi on Friday. PTI

India on Friday committed to allot a new site for Russia to set up yet another atomic power plant with six more reactors, as preliminary works for the last two units of the Kudankulam Nuclear Power Plant in Tamil Nadu already commenced.

With both sides also keen to step up cooperation in exploration and production of hydrocarbons, Moscow invited Indian oil and gas companies to partner with their Russian counterparts for a joint development of oil fields in the Russia's Arctic shelf as well as on the shelf of the Pechora and Okhotsk seas.

They also agreed to speed up negotiations for a pact for cooperation in laying pipelines to supply gas from Russia to India.

The summit between Prime Minister Narendra Modi and Russian president Vladimir Putin saw India and Russia agreeing on an “action plan” on the future course of bilateral civil nuclear cooperation.

Apart from setting up a second nuclear power plant with the latest version of six Russian VVER reactors, the new “action plan” envisaged expanding cooperation in third countries along with joint construction of nuclear power plants.

The “action plan” was signed by Kamlesh Vyas, secretary of department of atomic energy of government of India, and Alexey Likhachev, director general of the Russia atomic energy corporation Rosatom, on the sideline of the 19th India-Russia annual summit.

“We expect to start implementation in the near future serial construction of new units at a second site in India,” Likhachev was quoted in a press-release issued by Rosatom.

The “action plan” has not been made public as of Friday, but sources confirmed that both sides agreed that Russia would build the second nuclear power plant at Kavali in Andhra Pradesh.

“This will significantly increase level of equipment localization within framework of the 'Make in India' policy, as well as optimize timing and cost of the project execution,” Likhachev said.

Modi and Putin reviewed cooperation between the Russian and Indian energy companies, including investments of Indian consortium in Vankorneft and Taas-Yuryakh Neftegazodobycha in Russia and the participation of the PJSC Rosneft oil company in the Essar Oil capital.

A joint statement issued after the summit called for early completion of negotiations between Indian and Russian companies on Vankor cluster of Russia.