India and France sign Nuclear deal

India and France sign Nuclear deal

French President Nicolas Sarkozy is on a four-day state visit to India to improve the bilateral trade volume. India and France signed an agreement on Monday to build two nuclear power plants in India. The agreement, valued at about $9.3 billion, was signed in the presence of Sarkozy and Indian Prime Minister Manmohan Singh.

Areva SA, one of France’s main nuclear power companies, will build two European pressurized reactors of 1,650 megawatts each at Jaitapur in the western Indian state of Maharashtra.

The deal marked the first two of 20 nuclear reactors India wants to build to meet its increasing energy demand.

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