Breaking News
0

UPDATE 2-U.S. and India commit to building six nuclear power plants

Stock MarketsMar 14, 2019 03:46
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. UPDATE 2-U.S. and India commit to building six nuclear power plants

(Adds picture)

WASHINGTON, March 13 (Reuters) - The United States and India on Wednesday agreed to strengthen security and civil nuclear cooperation, including building six U.S. 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 U.S. undersecretary of state for arms control and international security.

"They committed to strengthen bilateral security and civil nuclear cooperation, including the establishment of six U.S. 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 U.S. nuclear reactors to energy-hungry India for more than a decade, but a longstanding obstacle has been the need to bring Indian liability rules in-line with international norms, which require the costs of any accident to be channeled 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 U.S. reactors. Brookfield Asset Management BAMa.TO bought Westinghouse from Toshiba in August 2018. Last April Westinghouse received strong support from U.S. Energy Secretary Rick Perry for its India project, which envisaged the building of six AP1000 reactors in the state of Andhra Pradesh.

The agreement to build the reactors, announced in 2016, followed on from a U.S.-India civil nuclear agreement signed in 2008.

India plans to triple its nuclear capacity by 2024 to wean Asia's third-largest economy off polluting fossil fuels.

Last October, India and Russia signed a pact to build six more nuclear reactors at a new site in India following summit talks between their leaders in New Delhi.

UPDATE 2-U.S. and India commit to building six nuclear power plants
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email