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

 
 
 

40 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

Israel must ready for 'prolonged' Gaza campaign
Jerusalem, July 29 (IANS) Israel's top political and defence leadership Monday night defied international calls for a ceasefire in the Gaza Strip, determining to continue the massive offensive there until risk posed by Gaza militant groups is "neutralised".
 
 
Britain to join NATO military exercise
London, July 29 (IANS) Britain will send a battle group to take part in a major military training in October as part of a NATO package to reassure its allies in eastern Europe, the British defence ministry said Monday.
 
 
UN call neglects Israel's security needs: Netanyahu
Jerusalem, July 29 (IANS) Israeli Prime Minister Benjamin Netanyahu Monday criticised the UN Security Council's call for ceasefire in the Gaza Strip, saying it strengthens Hamas and neglects Israel's security needs.
 
 
Three dead, 16 injured in Nigerian suicide attacks
Abuja, July 29 (IANS) At least three people were killed and 16 others injured in two suicide bombings Monday in northern Nigeria's Kano state, officials said.
 
 
 

Latest from the Network

Kutcher-Kunis to wed in July next year?
Los Angeles, July 29 (IANS) Actors Ashton Kutcher and Mila Kunis, who are getting ready to welcome their daughter, have begun to plan for their wedding. "The wedding will be next July. They want to focus on their...
Read more on Celebrity Balla
 
Lady Gaga portraits auctioned
New York, July 29 (IANS) Pop star Lady Gaga's "video portraits" raised over $1 million at an auction at Watermill Center here. Director Robert Wilson put on display "23 Video Portraits of Lady Gaga" series at his...
Read more on Celebrity Balla
 
Kim Kardashian followed by 'crazy driver'
Kim Kardashian claims a ''crazy driver'' followed her around Los Angeles today (07.28.14). The 'Keeping Up with the Kardashians' star hit back at rumors she was pulled over by police officers in Calabasas, California,...
Read more on Celebrity Balla
 
Elizabeth Banks is 'very genetically blessed'
Elizabeth Banks says she is ''very genetically blessed.'' The 'Hunger Games' actress, who has sons Felix, three, and Magnus, 20 months, with husband Max Handleman, insists she only recently realized she is attractive,...
Read more on Celebrity Balla
 
Courteney Cox receives engagement gifts
Johnny McDaid and Courteney Cox received several engagement presents in his native Northern Ireland. The newly-engaged couple were given complimentary souvenirs by excited fans in the city of Derry while exploring the...
Read more on Celebrity Balla
 
Ashton Kutcher and Mila Kunis to wed next July
Ashton Kutcher and Mila Kunis are planning to get married next July. The couple, who got engaged earlier this year and are expecting their first child, have reportedly set a date for their wedding next summer, as they...
Read more on Celebrity Balla
 
India at the 2014 Commonwealth Games Tuesday
Glasgow, July 29 (IANS) The following is the list of Indians who will be seen in action in the 2014 Commonwealth Games Tuesday. Schedule Badminton (Emirates Arena) Men's singles (Round of 64): R.M.V.Gurusaidutt vs...
Read more on Sport Balla
 
Indian medal winners at 2014 Commonwealth Games
Glasgow, July 29 (IANS) The following is the list of Indian medal winners at the 20th Commonwealth Games: Gold Sanjita Khumukchan: women's 48 kg weightlifting Sukhen Dey: men's 56 kg weightlifting Abhinav Bindra: men'...
Read more on Sport Balla
 
Hi-tech machine spews beer for fans mimicking Scot talk (CWG Diary)
Glasgow, July 29 (IANS) Fancy a free beer? Get talking in Scottish! A hi-tech water cooler that talks to visitors and dispenses beer is doing the rounds of the city assessing one's accent and rewarding the best with a...
Read more on Sport Balla
 
Ed Sheeran can't keep a secret
Los Angeles, July 29 (IANS) Singer Ed Sheeran is not good at keeping secrets and this habit of his annoys his celebrity friends. The 23-year-old is incredibly open about his life, and though he hasn't shared anything...
Read more on Celebrity Balla