N-commerce gets going, pact signed with French firm

N-commerce gets going, pact signed with French firm
Bhagyashree Pande
Tribune News Service

New Delhi, February 4
Taking the first major step towards undertaking nuclear commerce after the NSG waiver, India today signed a preliminary sales agreement with French atomic reactor giant Areva for setting up two nuclear reactors in India.

Areva, the world’s biggest maker of atomic reactors, inked the MoU with state-run Nuclear Power Corporation of India Limited (NPCIL) for building the country’s first large-capacity plants using overseas equipment.

This will end India’s nuclear trade isolation marking a new chapter in strategic relationship with France.

Areva will supply two European Pressurised Reactors (EPRs) of 1,650 MW each for the plants to be built at the nuclear park set up in Jaitapur in Maharashtra.

Areva CEO Anne Lauvergeon said her company was committed to supply fuel for the lifetime of the reactors, which, she pegged at about 60 years. She said Areva would meet the fuel requirements through its uranium mines located in various countries, including Australia, Kazakhstan and Niger. Though the MoU provides for supply of two nuclear reactors, the order may be stepped up to six at a later date. The cost of one EPR has been estimated at between $5.2 and 7.8 billion, although final costs are subject to negotiations.

The visiting Minister of Commerce of France, Anne-Marie Idrac said the MoU was part of the deep and friendly strategic relationship between India and France. She said the two countries shared common views on climate change and financial crisis that has engulfed the world. France, she said, was proud to be part of this new relationship, including supplying of EPR technology.

Jairam Ramesh, Minister of State for Power, said signing of the MoU signals end of India’s nuclear isolation and its emergence as a responsible nuclear state. He hoped that this relationship would go further in form of forging technological alliance to export nuclear reactors from India to various countries.