link : Westinghouse’s Andhra Pradesh nuclear reactors to be built by Indian partner
Westinghouse’s Andhra Pradesh nuclear reactors to be built by Indian partner
“This volatile economic and political situation creates an uncertain picture for the years to come.”
Countries that bumped up military spending in 2015 included Algeria, Azerbaijan, Russia, Saudi Arabia and Vietnam, many of which were involved in conflict or faced heightened regional tensions.
Perlo-Freeman said this was the first time SIPRI has mapped military spending to the UN’s new Sustainable Development Goals but it had previously compared it to spending on health and education.
The SIPRI military expenditure project was established in 1967 to study developments in world military expenditure.
“It is no secret that we are a peace research institute and our mission is towards promoting peace and demilitarisation, but we don’t say how this should be done,” he said.
(Reuters)
" data-image-meta="[]" data-image-title="Just 10% of World Military Spending Could Knock Off Poverty, Says Think Tank" data-large-file="" data-medium-file="" data-orig-file="" data-orig-size="" data-permalink="http://ift.tt/2rv5fty" data-recalc-dims="1" src="https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tw8CcJ117WVkdzZAqcPyMNa4XzXaiUpPRcBT3qJoUp-H-3NeX2JKTB5hBMOzt2yd6yzvLyg33MOg=s0-d">US nuclear major Westinghouse which was proposed to set up six nuclear reactors in Andhra Pradesh will supply technology and construction will be undertaken by an Indian partner.This was discussed as a way out —to have Westinghouse presence in India following troubles faced by it over bankruptcy—during PM Narendra Modi’s just-concluded visit to Washington. The finance for the project from the US Exim Bank remains intact and the initiative could kickstart only in 2018.
The proposal to set up the six nuclear reactors, which has been gathering dust for some time, figured in the joint statement made by PM Narendra Modi & President Donald Trump.
Westinghouse is caught in a bankruptcy quagmire and there is no functional reference atomic plant –– a pre-requisite to obtain permission from the Atomic Energy Regulatory Board (AERB), the nuclear watchdog of the country.
As per the initial plan, the Nuclear Power Corporation of India Limited (NPCIL) and Westinghouse were scheduled to conclude a techno-commercial pact for the proposed plant in June this year but the US company’s financial troubles has slowed down the progress.
According to a joint statement by Modi and the then US president Barack Obama in 2015, both sides had resolved to work towards ‘finalising the contractual agreement by June 2017’.
Westinghouse, which was acquired by Japanese conglomerate Toshiba in 2006 for $5.4 billion, filed for bankruptcy in March. Top Westinghouse officials visited India twice since March to assure that the project is on track.
The Indo-US nuclear cooperation agreement was signed in 2008, under which Westinghouse and GE Hitachi were to build six nuclear reactors each in Andhra Pradesh and Gujarat. Initially, Westinghouse was allocated the Mithi Virdi site in Gujarat, but was later given the Kovvada site in Srikakulam district of Andhra Pradesh after GE Hitachi was not keen on moving on with the project. Westinghouse had planned to build six AP-1000 atomic reactors with a capacity of 1,208 MW each at Kovvada.
The other impediment to the Westinghouse project is the absence of a similar functional plant that could serve as a reference point.
Source:- ET
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