nuclear-news

India going into big debt for nuclear power program

India’s Nuclear Power Plans to Borrow $6.5 Billion By Archana Chaudhary Dec. 17 (Bloomberg) –– Nuclear Power Corp. of India, the nation’s monopoly atomic generator, plans to borrow as much as $6.5 billion to fund six new reactors. The state-run company will raise about 140 billion rupees ($3 billion) from loans and bonds to build four 700-megawatt plants, Chairman Shreyans Kumar Jain said in a phone interview from Mumbai today. It will also seek about $3.5 billion in loans for two 1,000-megawatt reactors it’s developing in Kudankulam with Russia’s Rosatom Corp., he said……

France, U.S.

Areva SA, the world’s biggest maker of atomic reactors, said Oct. 14 that an agreement with Nuclear Power to build a plant in the western state of Maharashtra, home to the commercial hub of Mumbai, may be signed early next year.

The two companies plan to borrow 3 billion euros from European banks for setting up the project, Jain said………The company is waiting for the Indian Parliament to ratify an international nuclear-liability treaty before it can sign agreements with U.S. companies General Electric Co. and Westinghouse Electric Co., a unit of Toshiba Corp., Jain said.http://www.bloomberg.com/apps/news?pid=20601091&sid=acaWfa8VzQC0

December 18, 2009 - Posted by Christina Macpherson | business and costs, India | antinuclear, AREVA, nuclear, nuclear costs, nuclear spin