Report states India eyeing USD1.2 billion nuclear agreement with Russia
Date
8/14/2024 8:33:00 AM
(MENAFN) India is negotiating a substantial agreement with Russia valued at approximately USD1.2 billion for the supply of nuclear fuel and essential components for the Kudankulam Nuclear Power Plant (NPP), according to a report by the Times of India published on Tuesday. The deal, estimated at 105 billion rupees, aims to support the plant’s expansion with new units.
The Kudankulam NPP, which benefits from Russian collaboration, currently operates two units with a combined capacity of 2,000 megawatts (MW). This plant serves as a key energy source for Tamil Nadu and surrounding regions. The first two units became operational in 2013 and 2016, respectively. The construction of units 3 and 4 is underway, with further agreements signed in December for units 5 and 6 during Indian Foreign Minister Subrahmanyam Jaishankar's visit to Moscow.
Once fully operational, the Kudankulam plant is set to become India’s largest nuclear facility, boasting a total capacity of 6,000 MW. The proposed deal will see TVEL, a subsidiary of Russia’s state-run nuclear energy corporation Rosatom, supplying nuclear fuel, control rods, and a fuel assembly inspection tool for the third and fourth units from 2025 to 2033.
Additionally, India is exploring the possibility of establishing a joint venture with Rosatom to manufacture nuclear fuel domestically, enhancing its nuclear capabilities. This move reflects a broader trend of growing cooperation between the two nations in the nuclear sector.
The ongoing collaboration between India and Russia in nuclear energy spans several decades. A joint statement released during Indian Prime Minister Narendra Modi’s visit to Moscow in July highlighted the intention to further expand their partnership in nuclear energy.
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