Westinghouse deal to be reworked |
India`s $20-billion civil nuclear plant deal with bankrupt Westinghouse is being reworked. This will result in the American company branching out into a design and consultation role, while handing out the construction of the facilities to a local partner. The deal, which will see the installation of six nuclear reactors in Andhra Pradesh, is being "taken back to the drawing board" after Westinghouse — a US unit of Japan`s Toshiba — went bankrupt earlier this year. So, a new business model is being worked out and things are being renegotiated. Westinghouse is getting out of construction business, and they will design the reactors and provide consultation. The construction will be done by Indian companies. The matter was also believed to have been touched upon in the meetings on the sidelines of Prime Minister Narendra Modi`s talks with President Donald Trump. Westinghouse had held commercial negotiations with Nuclear Power Corporation of India (NPCIL) for the construction of the reactors.The Exim bank of US will also finance the project. The United States and India are committed to realising commercial civil nuclear cooperation, in particular through a contract for six Westinghouse Electric AP-1000 nuclear reactors to be built in Andhra Pradesh.
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