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

Journalist beheading: US defends refusal to pay ransom to kidnappers
Washington, Aug 22 (IANS) Amid the shock and horror of American photojournalist James Foley's beheading and revelations that his captors had demanded a ransom of $132 million, the US has defended its policy of no negotiations with terrorists.
 
 
Monkey doesn't own his selfie: US regulator
New York, Aug 22 (IANS) The US Copyright Office has confirmed that a monkey - or any other animal - that takes a selfie does not own the copyright of the photo.
 
 
Indian, Asian businesses hit hard by unrest in US town
Washington, Aug 22 (IANS) Even as a semblance of order was restored in a small city in Missouri after nearly two weeks of unrest, Indian and other Asian-American-owned businesses were reported to be in a mess after days of looting.
 
 
Gambia on high alert for Ebola outbreak
Banjul, Aug 22 (IANS) Gambia's ministry of health and social welfare said Thursday that it is on high alert for a possible Ebola outbreak in the country and are taking preventive measures to tackle the disease.
 
 
 

Latest from the Network

Journalist beheading: US defends refusal to pay ransom to kidnappers
Washington, Aug 22 (IANS) Amid the shock and horror of American photojournalist James Foley's beheading and revelations that his captors had demanded a ransom of $132 million, the US has defended its policy of no...
Read more on Ad Balla
 
Monkey doesn't own his selfie: US regulator
New York, Aug 22 (IANS) The US Copyright Office has confirmed that a monkey - or any other animal - that takes a selfie does not own the copyright of the photo. A selfie taken by a black macaque on the Indonesian...
Read more on Apple Balla
 
33 killed in Egypt bus accident
Cairo, Aug 22 (IANS) At least 33 people were killed and 41 injured Friday as two buses collided in Egypt's Sinai Peninsula, officials said. According to security officials, the injured included Russian, Yemeni and...
Read more on Politics Balla
 
Ancelotti confirms Di Maria transfer request
Madrid, Aug 22 (IANS) Real Madrid coach Carlo Ancelotti confirmed that the club's Argentinean international winger Angel Di Maria had asked for a transfer. Ancelotti's comment confirmed the rumours that have been...
Read more on Sport Balla
 
Indian, Asian businesses hit hard by unrest in US town
Washington, Aug 22 (IANS) Even as a semblance of order was restored in a small city in Missouri after nearly two weeks of unrest, Indian and other Asian-American-owned businesses were reported to be in a mess after...
Read more on Politics Balla
 
Violence against Iraqis worst seen this century: UN
United Nations, Aug 22 (IANS) The violence against children, women and minority communities in Iraq in the past few weeks is one of the worst seen in this century, a UN spokesperson said Thursday, citing information...
Read more on Politics Balla
 
Robin Williams to be honoured at Emmys
Los Angeles, Aug 22 (IANS) Actor-filmmaker Billy Crystal will pay a tribute to late actor Robin Williams at the forthcoming Emmy Awards event. The 66-year-old comedian will lead tributes to Williams, who was found...
Read more on Celebrity Balla
 
Islamic terrorists must be defeated: US army official
Washington, Aug 22 (IANS) It is possible to contain the Islamic State (IS) forces, but not in perpetuity, a senior US army official said Thursday. Martin Dempsey, chairman of US Joint Chiefs of Staff, said during a...
Read more on Politics Balla
 
Jessica Alba's 'super' imagination
Los Angeles, Aug 22 (IANS) The "Fantastic Four" star Jessica Alba used to imagine she was "super-human". As a child, the actress used to spend hours dreaming of having special powers that would take her ahead of her...
Read more on Celebrity Balla
 
Uganda to face Niger ahead of Afcon qualifier
Kampala, Aug 22 (IANS) Head coach of Uganda Cranes Milutin 'Micho' Sredojevic said Thursday that his team will play away to Niger in an international friendly Sep 2 ahead of a 2015 Africa Cup of Nations (Afcon)...
Read more on Sport Balla