Russia to build additional nuclear reactors in India

NEW DELHI: Reiterating plans to work together in the civilian nuclear sector, India and Russia agreed to build an additional four nuclear reactors in Kudankulam and announced plans to look into a comprehensive economic cooperation agreement to energise bilateral trade.

���We have finalised negotiations in regard to reaching an agreement on cooperation in the construction of additional nuclear power plants in India,��� said prime minister Manmohan Singh. The agreement was supposed to have been signed during Mr Singh���s trip to Moscow.

It was not signed due to the absence of IAEA safeguards and a waiver from the Nuclear Suppliers Group(NSG). India has finalised a civilian nuclear agreement with France is also waiting for an NSG waiver. Russia is already helping India build two light water reactors of 1,000 mw each at Kudankulam and this agreement is for an additional four reactors.

Russian prime minister Victor A Zubkov���s visit to India was more about reaffirming Indo-Russian bilateral ties that have lost some of its sheen in recent times. Mr Singh said the recent high level exchanges reflected ���time-tested, close and special ties that exist between the two countries��� while Mr Zubkov said the discussions were ���productive and business-like��� between two friends.

After their 90 minute meeting, both prime ministers affirmed plans to work together in the oil and gas sector, diversification of the trade basket and deepening the economic engagement. In the hydrocarbons sector both India and Russia are keen to broaden the collaboration.

���I expressed my hope that the ongoing discussions between our oil and gas companies would result in finalisation of joint projects in India, Russia and third countries,��� Mr Singh said. ���We agreed that there was vast potential for mutually beneficial cooperation in the area of hydrocarbons.���

On trade, Mr Zubkov said that India and Russia would try to meet the trade target of $10 billion by 2010. ���Trade last year grew by 30% touching by five billion dollars. If the speed remains the same, I am confident 10 billion dollar mark will be achieved," Mr Zubkov said.

He added that the political will was present to push bilateral trade. The two sides also held discussions on increasing cooperation in the areas of minerals, diamonds, transport, services, investment and high technology. ���We agreed to redouble our efforts to tap full potential of our two countries��� economies,��� Mr Singh said After talks, the two sides signed two MoUs on development of cooperation in matters of customs and in the area of archives.

Business was clearly the focus of Mr Zubkov���s visit with the setting up of a joint chamber of commerce to push business linkages. The India-Russia Chamber of Commerce was inaugurated by Russian deputy prime minister Alexander Zhukov.