Nuclear Power Corporation of India Ltd has agreed to buy two EPR units for the Jaitapur nuclear power plant and 25 years' worth of fuel from France's Areva.
Areva CEO Anne Lauvergeon and NPCIL chairman and managing director SK Jain signed agreements that set the contractual conditions, industrial scheme, and breakdown of roles and responsibilities, in the presence of both countries' heads of state. Areva will supply the stations' nuclear islands, according to Areva.
Lauvergeon said that the total deal was worth EUR 7 billion, according to a report in The Hindu Business Line, although it pointed out that the final price has yet to be finalised.
Lauvergeon also said that the issue of the recently-signed Indian liability law would not be a dealbreaker, but Areva did want more clarity on the issue, the Business Line reported. India's new law does expose suppliers to liability in some cases in the event of a nuclear accident.
Studies enabling the site excavation, the approval process forward with the Indian nuclear safety authority, and the detailed technical configuration of the Jaitapur EPR, start early 2011.
A total of six units are planned at Jaitapur, with the first unit to go online in 2018.
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