French nuclear power giant Areva said it would on Wednesday sign a deal with Nuclear Power Corp of India to build at least two next-generation EPR nuclear reactors.
A memorandum of understanding will be signed by Areva chief executive Anne Lauvergeon in New Delhi, said the spokesman for the state-controlled group, adding it would open the way for negotiations to build "at least two EPRs."
France, which hopes for deals to export tens of billions of dollars worth of nuclear technology to India, on Monday hailed the Asian giant's inspections agreement with the UN atomic watchdog.
India finalised its return from the nuclear cold by signing a safety accord with the International Atomic Energy Agency (IAEA), part of moves to put an end to a 34-year-old embargo on nuclear trade with New Delhi.
France already had a bilateral accord with India and will now look forward to earning a slice of a market for nuclear fuel, reactors and other technology which experts value at 100 billion euros (128 billion dollars) over 15 years.
Russia, Canada and the United States have also signed agreements with India but Moscow — New Delhi's former Cold War ally — is the only state actively involved in building reactors in the country.
India's 17 nuclear power plants supply about 2.5 percent of its fuel needs but the government aims to hike this to 25 percent by mid-century, lessening dependence on oil imports and coal to sustain its fast-growing economy.
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