Nuclear Deal Agreed By UK and India
Posted by Neil Payne on February 5th, 2010Britain and India today agreed the text of a deal that will allow British companies to enter the fray against Russia and France in the scramble to supply nuclear power equipment worth an estimated $150 billion.
The breakthrough, which emerged from talks held in London, comes after international sanctions that had prevented India from buying civilian nuclear technology for 30 years were lifted in 2008.
Lord Mandelson, the Business Secretary, said: “This is a very, very significant advance, and I look forward to that text being signed off at a ministerial level before long.”
The countries declined to give further details, but officials said it would provide “major trade opportunities” for British businesses.
UK Will Now Be Able To Bid On New Power Plant Production In India
India is expected to increase the power it generates from nuclear sources 100-fold in the next 40 years and American Government offials estimate that deals worth at least $150 billion will be generated.
A British Government spokesman added: “Fifty years after building the world’s first commercially operated power station, the UK is still one of the market leaders in this sector. It’s an industry that earns the UK £700 million in overseas business every year and employs over 80,000 people across the nuclear supply chain.”
Read More>Times Online
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