India plans to generate 63 GW electricity by 2032 and attract foreign investor such as Russia, China, France and the US.
When Barrack Obama visited India on January 2015, both countries came to an agreement over the civil nuclear Liability Law.
On June 7 2016 the Prime minister of India Narendra Modi inked a deal allowing the Japanese company Westinghouse to build six nuclear reactors (AP-1000) in India’s southern state of Andhra Pradesh. Westinghouse is 90% owned by Japanese companies (87% Toshiba Corporation, and 3% by IHI Corporation* and 10% by Kazatomprom**.
More recently, India indicates it is is negotiating with US Export-Import Bank to get a loan of US $8 to $9 billion, in order to finance six Westinghouse Electric nuclear reactors at Andhra Pradesh***.
*IHI Corporation (formerly known as Ishikawajima-Harima Heavy Industries), has a joint corporation for manufacturing turbine equipment of nuclear power plants, TOSHIBA IHI Power Systems Corporation, with Toshiba Corporation.
**Kazatomprom is 100% owned by the Joint Stock Company Sovereign Wealth Fund Samruk-Kazyna.
***India is also negotiating loan with Japan and South Korea to build the reactors in Andhra Pradesh.
