Valentin Mezhevich, first vice chairman of the Federation Council Committee on Natural Monopolies

– The singing of the contract for supply of nuclear fuel to Indian NPPs is a very important economic achievement

On February 11, 2009 in Mumbai (India) JSC «TVEL» and the Department of Atomic Energy, the Government of India, signed long-term contracts for fuel pellet’s supply to India’s nuclear power reactors . The total cost of contracts is more than $700 million.

The singing of the contract for supply of nuclear fuel to Indian nuclear power plants is a very important economic achievement. TVEL is the first company to have signed a long-term contract with India after the lifting of the restrictions of the Nuclear Suppliers’ Group. Now the Indian market is attracting the attention of almost all biggest nuclear players. This contract has shown that India is a priority partner for Russia. In just a few months we have concluded multi-billion contracts: in late 2008 we signed an inter-governmental agreement for construction of four more reactors at Kundakulam NPP, today, we have signed a contract for supply of fuel pellets.

India has large-scale plans in the field of peaceful use of nuclear energy: by 2025 it is planning to raise the capacity of its nuclear reactors to 40GW. Such a remarkable beginning shows that both countries are firmly committed to build up long-term mutually beneficial cooperation.