Sanctions-hit Russia to build 10 more nuke reactors in India

December 12, 2014 - 16:10 AMT

PanARMENIAN.Net - Russia will build 10 more nuclear reactors in energy-starved India, Prime Minister Narendra Modi said Thursday, Dec 11 after talks with President Vladimir Putin aimed at shoring up ties between the long-time allies, Agence France-Presse reported.

Putin is in New Delhi seeking to strengthen energy, defence and strategic ties in Asia in an attempt to revive Russia's economy, badly hit by US and EU sanctions over Ukraine.

At a joint press conference Modi, who has sought to cultivate closer ties with the United States since taking power in May, pledged India's continued support for Russia.

"The importance of this relationship and its unique place in India's foreign policy will not change," he said.

Modi, who swept to power promising to boost flagging growth, said energy security was "critical for India's economic development and creating jobs for our youth".

"We have outlined an ambitious vision for nuclear energy of at least 10 more reactors," he said.

Russia has supplied two reactors to a plant at Kudankulam in southern India under a long-delayed agreement, and has been pushing to supply more.

The two countries signed 20 agreements -- including pledges to boost defence cooperation and explore joint energy projects in the Arctic -- during talks that Putin said focused on "international issues".

"Our approaches to key global and regional issues are either similar or very close," he said.

The strong ties between India and Russia date back to the 1950s after the death of Stalin. But trade between the two countries was just $10 billion last year, which Putin, who is on his first visit to India since Modi was elected, said was "not enough".

"He (Putin) wants to show the world that he isn't isolated and to a certain extent he's not -- he still has the BRICS countries," said Nandan Unnikrishnan, Russia expert from Delhi-based think-tank Observer Research Foundation, referring to the emerging economies of Brazil, Russia, India, China, and South Africa.