India, France ink pact to build two N-power plants

India and France signed a framework agreement for construction of two 1650 MW nuclear power reactors in Maharashtra and price and technical issues were being negotiated.

The Nuclear Power Corporation of India Limited (NPCIL) and French company Areva signed an agreement RPT signed an agreement for building two European Pressure Reactors at Jaitapur in Maharashtra after talks between Prime Minister Manmohan Singh and visiting French President Nicolas Sarkozy.

However, the prime minister made it clear that issues related to pricing of nuclear power and other technical matters were yet to be settled. "The framework agreement has been signed between Areva and NPCIL. There are issues with regard to other technical matters including pricing. This are subject matter of negotiations," Singh told reporters at a joint press conference with Sarkozy.

India and France plan to jointly set up six nuclear power plants of 1650 MW each at Jaitapur at an approximate cost of 25 billion dollars.

Agreements have been signed and clearances granted for the first two nuclear power plants.

Areva has said it would take upto seven years for the first nuclear power plant to be made operational after the first pour of concrete.