India-Russia Deal for Phase 3-4 of Koodankulam Project Almost Finalised

Published: 15th January 2014 10:25 PM  |   Last Updated: 15th January 2014 10:27 PM   |  A+A-


India has almost finalised the deal with Russia for the phase 3 and 4 of Koodankulam nuclear power project in Tamil Nadu, Minister of State for Atomic Energy V Narayanasamy said on Wednesday.

"Negotiations with Russian government have almost crystallised," he told reporters at the AICC headquarters indicating that the agreement could be signed soon.

The proposed reactors at Koodankulam will generate 1000 MW electricity each.

Land acquisition for the Jaitapur nuclear power project has been completed and the issue of "little more" compensation has been resolved and now construction will start, he said, adding that negotiations were on with France's Areva for the equipment.

Replying to questions, he agreed with a questioner that the nuclear liability law passed by Parliament was becoming a "liability" while negotiating with different countries for reactors.

"As regards buying equipment, we explain to them. Some agree, some do not. We will have to go by the law. We have to respect it. We are convincing them. It will take time .... We will succeed," he said.

He said signing of the nuclear cooperation agreement with the US has helped India in getting fuel for the reactors in "sufficient" quantity.

Noting that the cost of some of the countries selling nuclear reactors did not suit India, he said that was why hard bargaining was on and that takes time. He said talks with the US were on.

Emphasising that nuclear power was cheap, he said government sells power from Kalpakkam at 67 paise per unit and that from Tarapur at Rs 1.15.

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