|  India, Russia sign deal to build nuke reactors -
February 13th, 2008
India, Russia sign deal to build nuke reactors
NEW DELHI: India and Russia have signed an agreement Tuesday to construct four more reactors for the Kudankulam nuclear power plant in Tamil Nadu.
Both the countries also decided to step up all-round cooperation with particular focus on defence, hydrocarbons, trade and economic ties during talks between Prime Minister Manmohan Singh and Russian Prime Minister Victor a Zubkov here.
Russia will supply nuclear fuel for the reactors and re-export the spent fuel. Russian Prime Minister Viktor Zubkov, speaking after talks with Prime Minister Dr Manmohan Singh, said "the level of Russian-Indian political dialogue" allows the two countries to double mutual trade that currently stands at $5-$6 billion a year by 2010.
Dr Manmohan Singh echoed the assessment adding he hopes talks in India will yield new joint oil projects in Russia, India and third countries.
India plans to build 16,000 km of oil and gas pipelines at home. Russian companies have shown interest in the projects. ONGC is already participating in the Sakhalin I oil and gas project off Russia's Pacific Coast, whose recoverable reserves estimated at 2.3 billion barrels of oil and 485 billion cubic meters of natural gas.
Atomstroyexport, Russia's nuclear power equipment and service export monopoly, has been building two reactors for the Kudankulam plant since 2002 in line with a 1988 deal between India and the then Soviet Union and an addendum signed ten years later.
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