360° Coverage : Russian lawyers vet Kudankulam insurance package

1 Updates
Russian lawyers vet Kudankulam insurance package
Photo Credit: , Getty Images

Russian lawyers vet Kudankulam insurance package

Oct 20 2013, 11:12pm CDT | by IANS

Moscow, Oct 21 (IANS) India's civil nuclear liability clause is currently being discussed by Russian lawyers, especially India's proposal for allowing an insurance package to address the concerns of Russia over the liability clause.

Moscow, Oct 21 — India's civil nuclear liability clause is currently being discussed by Russian lawyers, especially India's proposal for allowing an insurance package to address the concerns of...

Filed under: news

YouTube Videos

 
 
 

43 weeks ago

Russian lawyers vet Kudankulam insurance package

Oct 20 2013, 11:12pm CDT | by IANS

Moscow, Oct 21 (IANS) India's civil nuclear liability clause is currently being discussed by Russian lawyers, especially India's proposal for allowing an insurance package to address the concerns of Russia over the liability clause.

Moscow, Oct 21 — India's civil nuclear liability clause is currently being discussed by Russian lawyers, especially India's proposal for allowing an insurance package to address the concerns of Russia over the liability clause.

India has proposed the name of state-run General Insurance Corporation (GIC) as the insurance company with which Russia could work to quantify the risk amount for the Russian suppliers for units three and four of the Kudankulam civil nuclear power plant, an informed source told IANS.

The Russian side need not accept GIC as the company for providing the risk cover. It can seek any other company too, including a Russian one, the source added.

GIC would suggest insurance rates for different components of the Russian reactors. While this could in push up the cost, but if there is no insurance claim then the Russian suppliers would get the money after the insurance period is over, another source said.

India's Nuclear Power Corporation of India Limited (NPCIL) and Russian company Rosatom are trying to finalise a commercial deal on the third and fourth nuclear reactors for the Kudamkulam plant. Lawyers from India and Russia are negotiating over the deal now. The Indian side has passed on the proposal to Russia, which still has to take a call, said the source.

Russia has set up two 1,000 MW nuclear reactors in Tirunelveli district of Tamil Nadu of which the first is set to produce electricity in a few months and the second one is slated to attain criticality in six months' time.

"We are very close to an agreement, we have settled most of the issues .. it is with the lawyers of both sides at present.. In any case it won't be signed in Moscow during the Indian prime minister's visit," another source said. Manmohan Singh is in Moscow on an official visit.

The US had also voiced concerns over the liability clause, which held up firming up a commercial deal on the 2010 Indo-US civil nuclear deal. During Prime Minister Manmohan Singh's visit to Washington last month, India and the US inked a "Pre Early Works Agreement" to initiate the project.

NPCIL and Westinghouse Electric inked the agreement during the visit, which has come as a big relief to the US which has voiced concern over not being able to take forward the big ticket deal.

(Ranjana Narayan can be contacted at ranjana.n@ians.in)

--Indo-Asian News service

rn/tb

IANS

Source: IANS

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Former Irish PM Albert Reynolds dead
Dublin, Aug 21 (IANS) Former Irish prime minister Albert Reynolds, who played an important part in the Northern Ireland peace process, died Thursday after a long illness.
 
 
Islamic State biggest threat to our profession: Scribe panel
Cairo, Aug 21 (IANS/EFE) Following the beheading of US reporter James Foley, the Committee to Protect Journalists (CPJ) has warned that the Islamic State (IS) Sunni extremist organisation operating in Syria and Iraq is one of the biggest threats to journalists.
 
 
Pakistan SC adjourns PTI's case hearing till Friday
Islamabad, Aug 21 (IANS) Pakistan's Supreme Court Thursday ordered the Pakistan Tehreek-i-Insaf (PTI) to file a concise statement by Friday in relation to the petition filed against the party over its ongoing protests seeking the resignation of Prime Minister Nawaz Sharif.
 
 
Army, militants fighting for control over Syrian airport
Cairo, Aug 21 (IANS/EFE) Fierce clashes broke out Thursday between the Syrian army and militants of the Islamic State (IS) Sunni extremist group on the outskirts of al-Tabaqa military air base, the only bastion still in the hands of government forces in al-Raqa province in northern Syria, the Syrian Observatory for Human Rights (SOHR) said.
 
 
 

Latest from the Network

Pierce Brosnan turned down Batman role
Pierce Brosnan turned down the role of Batman because he ''couldn't really take it seriously''. Brosnan, 61, admitted he was offered the part in Tim Burton's 1989 movie, but decided to pass up on the opportunity. Asked...
Read more on Movie Balla
 
Luc Besson downplays speculation of Lucy sequel
'Lucy' director Luc Besson doesn't intend to make a sequel to the action film. Besson - who has also directed 'Leon: The Professional' and 'The Fifth Element' - has been busy promoting the film, which sees Scarlett...
Read more on Movie Balla
 
Carson Daly is a dad again
Carson Daly has become a father for the third time. The 'Voice USA' host's fiancée Siri Pinter gave birth to a baby girl yesterday (08.20.14) and the couple have named their new daughter - a sister for Jackson, five,...
Read more on Celebrity Balla
 
Robin Williams loved ones still in shock
Robin Williams' friends and family are still ''in complete shock'' over his death. The 'Hook' actor was found hanged at his home on August 11 and his loved ones are still struggling to comprehend the fact he took his...
Read more on Celebrity Balla
 
Julianne Hough confirmed as DWTS judge
Julianne Hough has been confirmed as the fourth judge on 'Dancing with the Stars'. The 26-year-old professional - who has won the show twice - will join Carrie Anne Inaba, Len Goodman and Bruno Tonioli when the show...
Read more on Celebrity Balla
 
Justin Bieber rents party house
Justin Bieber is renting a house just for parties. The 'Believe' hitmaker plans to continue living in his Beverly Hills condominium - which has been visited by police numerous times following complaints off local...
Read more on Celebrity Balla
 
Former Irish PM Albert Reynolds dead
Dublin, Aug 21 (IANS) Former Irish prime minister Albert Reynolds, who played an important part in the Northern Ireland peace process, died Thursday after a long illness. He was 81 and leaves behind his wife Kathleen...
Read more on Politics Balla
 
Islamic State biggest threat to our profession: Scribe panel
Cairo, Aug 21 (IANS/EFE) Following the beheading of US reporter James Foley, the Committee to Protect Journalists (CPJ) has warned that the Islamic State (IS) Sunni extremist organisation operating in Syria and Iraq is...
Read more on Ad Balla
 
Pakistan SC adjourns PTI's case hearing till Friday
Islamabad, Aug 21 (IANS) Pakistan's Supreme Court Thursday ordered the Pakistan Tehreek-i-Insaf (PTI) to file a concise statement by Friday in relation to the petition filed against the party over its ongoing protests...
Read more on Politics Balla
 
Army, militants fighting for control over Syrian airport
Cairo, Aug 21 (IANS/EFE) Fierce clashes broke out Thursday between the Syrian army and militants of the Islamic State (IS) Sunni extremist group on the outskirts of al-Tabaqa military air base, the only bastion still...
Read more on Politics Balla