India and France were planning to enter into a framework agreement on nuclear sector. On Monday, both the countries inked the agreement for sourcing two reactors from French nuclear major Areva SA along with an assurance on uranium supplies.
The framework agreement envisages the sale of nuclear reactors, fuel and services worth about EURO 7 billion (or around Rs 42,000 crore at current exchange rates).
The units are of 1650 MWe each. Units will be supplied to Nuclear Power Corporation of India Ltd (NPCIL). Areva said it will take around 5-6 years to commission these units. The units are planned in Jaitapur (Maharashtra)
It also envisages partnerships between the Areva and the (NPCIL) to prepare for the construction of the two reactors from early 2011, she said. Details of the pricing of the reactor units, and the terms of the fuel sales are to be worked out in the final contract.
The French firm has assured India on the supply of uranium fuel for the 60-year life of the reactor, with the initial fuel pact spanning 25 years for the two units that are slated to come on stream in 2018.
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