Koodankulam deal concluded

By Vladimir Radyuhin

MOSCOW, NOV. 6. A deal for construction of a nuclear power plant in Tamil Nadu with technical and financial assistance from Russia was signed here today on the sidelines of the Prime Minister, Mr. A.B. Vajpayee's visit.

The agreement, inked by Mr. V.K. Chaturvedi, CMD of the Nuclear Power Corporation of India Ltd., and Mr. Viktor Kozlov, General Director of Russia's Atomstroiexport, provides for the construction of the plant at Koodankulam of two Russian-designed 1,000 MW VVER light-water reactors. Russia will supply fuel and spare parts for the plant.

The accord, which effectively breaks a 30-year western blockade of nuclear technology supply to India, was hailed by the chairman of the Indian Atomic Energy Commission, Mr. Anil Kakodkar, as a ``milestone'' in Indo-Russian nuclear energy cooperation and an important addition to power supply in Tamil Nadu.

Construction of the reactors is to begin on May 1. India will finance 46 per cent of the construction cost of about $ 3 billion, with the rest to be raised on credit from Russia.

The credit, extended at 4-per cent interest, was to be repaid in instalments after the commissioning of the first unit in 2007.

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