US, India commit to building 6 nuclear power plants
Washington
THE United States and India on Wednesday agreed to strengthen security and civil nuclear cooperation, including building six US nuclear power plants in India, the two countries said in a joint statement.
The agreement came after two days of talks in Washington. The United States under President Donald Trump has been looking to sell more energy products to India, the world's third-biggest buyer of oil.
The talks involved Indian Foreign Secretary Vijay Gokhale and Andrea Thompson, the US undersecretary of state for arms control and international security.
"They committed to strengthen bilateral security and civil nuclear cooperation, including the establishment of six US nuclear power plants in India," the joint statement said.
It gave no further details of the nuclear plant project.
The two countries have been discussing the supply of US nuclear reactors to energy-hungry India for more than a decade, but a long-standing obstacle has been the need to bring Indian liability rules in line with international norms, which require the costs of any accident to be channelled to the operator rather than the maker of a nuclear power station.
Pittsburgh-based Westinghouse has been negotiating to build reactors in India for years, but progress has been slow, partly because of India's nuclear liability legislation, and the project was thrown into doubt when Westinghouse filed for bankruptcy in 2017 after cost overruns on US reactors.
Canada's Brookfield Asset Management bought Westinghouse from Toshiba in August 2018. Last April, Westinghouse received strong support from US Energy Secretary Rick Perry for its India project, which envisaged the building of six AP1000 reactors in the state of Andhra Pradesh. REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
California to wrap up ExxonMobil plastics probe ‘in weeks’, AG says
Gold edges higher; hovers near one-week low on tempered Middle East fears
Why has gold’s inverse relationship with the US dollar reversed?
Oil futures fall as fears of a wider Middle East war fade
Malaysia’s Sapura Energy to sell stake in SapuraOMV to TotalEnergies for US$705 million
Saudi Aramco in talks to buy 10% of China’s Hengli Petrochemical