16 Dec 2014

The visit of Putin: oil, helicopters and nuclear power

Russian President Putin visited India last week was was welcomed as “…our most important defence partner…”, announcing that Russia will manufacture one of its helicopters entirely in India. A commitment to nuclear power generation was underlined with the announcement that Russia will supply twelve more reactors over the next 20 years. The first reactor at the Kudankulam nuclear power plant in Southern India was commissioned last year, increasing nuclear capacity by 25%. Another reactor at the same site will be commissioned next year with two more to follow. There will be a new study undertaken to identify more suitable sites. There will also be cooperative studies in the field of oil and gas exploration and production, including an evaluation of a possible Russia/India oil pipeline to transport Russian oil directly to India’s ultra-modern refineries in Gujarat. Prime Minister Modi expressed disappointment at declining bilateral trade between the two countries and Mr. Putin undertook to help reverse the negative trend.

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