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

How the brain reacts to fear
London, Nov 29 (IANS) Even if people forget the details of a traumatic event or what is called explicit memory, the emotions associated with that event also known as implicit memory may remain ingrained in the brain for a long time, says a new study.
 
 
US firm using India model to create IT jobs for women (Business Feature)
Washington, Nov 29 (IANS) A leading Information Technology (IT) services company is using a programme developed in India to create jobs worldwide and train and place minority women in high-quality IT jobs in 10 cities across America.
 
 
'Petitioners Village' -- the price for seeking justice in China
Beijing, Nov 29 (IANS/EFE) More than two hours away from the centre of Beijing is the "petitioners village", a group of huts that belong to citizens demanding justice in China and who are unable to find work or decent housing as they have been blacklisted by the regime.
 
 
(After 12) 'Petitioners Village' -- the price for seeking justice in China
Beijing, Nov 29 (IANS/EFE) More than two hours away from the centre of Beijing is the "petitioners village", a group of huts that belong to citizens demanding justice in China and who are unable to find work or decent housing as they have been blacklisted by the regime.
 
 
 

Latest from the Network

Abigail Breslin slams ex Michael Clifford
Abigail Breslin has slammed her ex, Michael Clifford. The 'My Sister's Keeper' actress went on a date with the 5 Seconds of Summer guitarist last year but it seems as though it didn't end well after she released a song...
Read more on Celebrity Balla
 
Kevin Bacon to sizzle in Jungle
Kevin Bacon is to star in 'Jungle'. The 56-year-old actor will appear in the survival drama, which is based on the true story of Yossi Ghinsberg, an adventurer who found himself lost in the Amazon rainforest for three...
Read more on Movie Balla
 
Mickey Rourke to return to boxing at 62
Mickey Rourke will return to boxing aged 62. The actor will come out of retirement and step into the ring tonight (11.28.14) for the first time in 20 years as he competes against 29-year-old Elliot Seymour. He said: ''...
Read more on Celebrity Balla
 
Kristen Stewart: Actors are isolated
Kristen Stewart claims actors become ''isolated'' because of their fame. The 24-year-old actress has become one of the biggest movie stars in the world following her portrayal of Bella Swan in the 'Twilight' franchise...
Read more on Celebrity Balla
 
Burt Reynolds to sell memorabilia
Burt Reynolds is selling over 600 personal items to stave off bankruptcy. The 78-year-old Hollywood star is reportedly struggling financially so will see awards, cars and costumes go under the hammer in Las Vegas next...
Read more on Celebrity Balla
 
Eddie Redmayne's fear of failure
Eddie Redmayne has a fear of failure. The 'Theory of Everything' star has admitted that like fellow actor, Rachel Weisz, he worries about ever getting hired again. He said: ''I was reading an interview with Rachel Weisz...
Read more on Celebrity Balla
 
Where to Find Black Friday Car Deals
The Black Friday Car Sales events have gained traction over the past couple of years. This year several major brands ran nation-wide commercials announcing their Car Black Friday deals. In the beginning it was creative...
Read more on Auto Balla
 
Indian Aces win inaugural IPTL tie
Manila, Nov 28 (IANS) The much-awaited inaugural International Premier Tennis League (IPTL) got off to a flying start with the Indian Aces notching an impressive 26-16 first victory against the Singapore Slammers at...
Read more on Sport Balla
 
Australian navy's largest ship commissioned
Canberra, Nov 28 (IANS) HMAS Canberra, a 27,000-tonne landing helicopter dock (LHD), was commissioned Friday, providing the Royal Australian Navy (RAN) with one of the world's most capable and sophisticated amphibious...
Read more on Politics Balla
 
Sindhu, Prannoy enter Macau Open semis
Macau, Nov 28 (IANS) Indian shuttlers P.V. Sindhu and H.S. Prannoy came out with contrasting wins to enter their respective semi-finals at the $120,000 Macau Open Grand Prix Gold here Friday. While defending champion...
Read more on Sport Balla