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The high cost of Units 5, 6 at Kudankulam Nuclear power – most of it owed to Russia

Units 5, 6 at Kudankulam Nuclear power plant to cost Rs 50,000 crore: The New Indian Express,  NPCIL 2 June 17 ST. PETERSBURG: The construction of the fifth and sixth units of India’s largest nuclear power plant in Tamil Nadu will cost about Rs 50,000 crore with half of the amount being funded by Russia as loan.

The project will take seven years to start generating electricity, Nuclear Power Corporation of India (NPCIL) Chairman and Managing Director S K Sharma told PTI here.

India and Russia yesterday signed an agreement for the two new reactors for the Kudankulam Nuclear Power Plant (KNPP) on the sidelines of the annual summit between Prime Minister Narendra Modi and Russian President Vladimir Putin.

“The entire project will cost about Rs 50,000 crore. The first unit will be commissioned in 66 months and the second six months thereafter,” Sharma said.

Atomstroyexport, a unit of Russian state nuclear corporation Rosatom, will build the reactors.

“The project will be funded in 70:30 debt-equity ratio (70 per cent debt, 30 per cent equity),” he said.

The Russian government will lend India USD 4.2 billion to help cover the construction cost……http://www.newindianexpress.com/states/tamil-nadu/2017/jun/02/units-5-6-at-kudankulam-nuclear-power-plant-to-cost-rs-50000-crore-npcil-1612150.html

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June 5, 2017 - Posted by | business and costs, India, politics international

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