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India, Russia agree to cooperate in civil nuclear power, boost trade
New Delhi (AFP) Feb 12, 2008 Cold War allies India and Russia Tuesday finalised plans for Moscow to build new nuclear power stations here and pledged to boost strategic ties by doubling trade to 10 billion dollars by 2010. The two countries also decided to step up cooperation in defence, engineering and energy during talks between visiting Russian Prime Minister Victor Zubkov and his Indian host Manmohan Singh in New Delhi. "We have finalised negotiations... on building additional nuclear power plants in India," Singh said. Under the terms of the deal, Russia will build four additional reactors at Kudankulam in the southern Indian state of Tamil Nadu. Moscow is already constructing two 1,000 megawatt light water nuclear power reactors at Kudankulam under the terms of an accord signed in June 1998. But installation of the new reactors will begin only after the 45-member Nuclear Suppliers Group, which controls global nuclear commerce, lifts a three-decade old embargo on atomic trade with India. India is also negotiating a pact with the International Atomic Energy Agency -- another step towards New Delhi overcoming its status as a nuclear pariah. Premier Singh said India and Russia had noted the "vast potential" for cooperation in hydrocarbons as he described defence ties as an "important pillar" of their strategic partnership. Russia accounts for 70 percent of Indian military equipment but late deliveries and commercial disagreements have forced New Delhi to use other suppliers including Britain, France, Israel and the United States. Singh said New Delhi and Moscow had "agreed to redouble our efforts to tap full potential of our two countries' economies," as Trade Minister Kamal Nath called for the inclusion of transport, services, investment and high technology in the trade basket. Zubkov noted that "trade last year (2006-2007) grew by 30 percent, touching five billion dollars. If the speed remains the same, I am confident the 10 billion dollar mark will be achieved" by 2010. Community Email This Article Comment On This Article Related Links Civil Nuclear Energy Science, Technology and News Powering The World in the 21st Century at Energy-Daily.com
Blunt Urges Administration To Investigate Venezuela's Billion-Dollar Investment In Iranian Energy
Washington DC (SPX) Feb 12, 2008House Republican Whip Roy Blunt urged the administration to use the authority granted to it by Congress to investigate whether Venezuelas $1 billion joint-venture with Iran can be sanctioned under the Iran Sanctions Act, which was reauthorized under a bill authored by Rep. Ileana Ros-Lehtinen (R-Fla.) and passed by Congress under Blunts leadership in 2006. |
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