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

 
 
 

1 year 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

Canada suspends issuance of visas to Ebola-hit African countries
Ottawa, Nov 1 (IANS) Canada has suspended issuance of visas to residents of West African countries with "widespread and persistent-intense transmission" of Ebola virus disease, a media report said Friday.
 
 
14 killed in Honduras bus crash
Tegucigalpa, Nov 1 (IANS) At least 14 people were killed and scores injured when a bus carrying them plunged into a ravine in western Honduras, media reports said Friday.
 
 
US urges peaceful transition of power in Burkina Faso
Washington, Nov 1 (IANS) The US Friday called for a "peaceful" transition of power in Burkina Faso, but refused to label the military's take-over as a coup.
 
 
Three Iraqis arrested on terror charges in Switzerland
Geneva, Nov 1 (IANS) Swiss authorities Friday said they arrested three Iraqi nationals suspected of planning a terrorist attack in Europe.
 
 
 

Latest from the Network

Canada suspends issuance of visas to Ebola-hit African countries
Ottawa, Nov 1 (IANS) Canada has suspended issuance of visas to residents of West African countries with "widespread and persistent-intense transmission" of Ebola virus disease, a media report said Friday. The Canadian...
Read more on Politics Balla
 
Sheen keen to return to 'Two and a Half Men'
Los Angeles, Nov 1 (IANS) Actor Charlie Sheen says he is open to a return to popular TV show "Two and a Half Men". Sheen, who was was fired from the sitcom in March 2011 after a series of negative headlines, says he...
Read more on Celebrity Balla
 
14 killed in Honduras bus crash
Tegucigalpa, Nov 1 (IANS) At least 14 people were killed and scores injured when a bus carrying them plunged into a ravine in western Honduras, media reports said Friday. The accident, which occurred early in the day...
Read more on Politics Balla
 
US urges peaceful transition of power in Burkina Faso
Washington, Nov 1 (IANS) The US Friday called for a "peaceful" transition of power in Burkina Faso, but refused to label the military's take-over as a coup. "We underscored our commitment to peaceful transitions of...
Read more on Politics Balla
 
'Interstellar' about bonds of love: Jessica Chastain
Los Angeles, Nov 1 (IANS) Actress Jessica Chastain says that her forthcoming science fiction "Interstellar" is also about fathers and the bonds of love. In the movie, she plays Matthew McConaughey's character's...
Read more on Celebrity Balla
 
Chinese unmanned lunar orbiter returns home
Beijing, Nov 1 (IANS) China succeeded Saturday in the world's first mission to the Moon and back, becoming the third nation to do so after the former Soviet Union and the US. The test lunar orbiter, nicknamed "Xiaofei...
Read more on Business Balla
 
Avril Lavigne feels 'a bit lost'
Avril Lavigne feels ''a bit lost'' amid rumors her marriage to Chad Kroeger is on the rocks. The 'Here's to Never Growing Up' singer, who recently celebrated her 30th birthday without her husband, reportedly thinks her...
Read more on Celebrity Balla
 
Scott Disick is battling severe anxiety
Scott Disick admits his anxiety makes him ''literally want to jump out of my skin.'' The 31-year-old reality TV star - whose longtime girlfriend Kourtney Kardashian is set to give birth to their third child in December...
Read more on Celebrity Balla
 
Demi Lovato wants to be 'sexier' this Halloween
Demi Lovato says working out has boosted her confidence. The 22-year-old singer, who sought treatment for a number of issues, including an eating disorder, in rehab in late 2010, is planning to wear a ''sexier''...
Read more on Celebrity Balla
 
Usher's son is his toughest critic
Usher's son doesn't think he's a great singer. The 'She Came To Give It To You' hitmaker admits his youngest child, Nayvid, five, is very critical of his performances. The 36-year-old star said: ''He doesn't care about...
Read more on Celebrity Balla