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U.S. backs Westinghouse to finish nuclear power projects in India

Reuters  |  NEW DELHI 

(Reuters) - Electric, which filed for bankruptcy last year, is now "lean and mean and ready to get to work" on its projects to build nuclear reactors in India, U.S. secretary said on Tuesday.

The show of support by Perry came after Pittsburgh-based Westinghouse's bankruptcy filing had raised doubts about the proposed construction of six nuclear reactors in India's state.

The agreement to build reactors, announced in 2016, was the result of a decade of diplomatic efforts as part of a U.S.-civil nuclear agreement signed in 2008.

"Nobody in the world makes better reactors than Westinghouse," Perry told journalists after a meeting with India's and gas minister in

"They had some challenges in the past from its business practices. We leave that where it is. The bottom line is, that's all behind them. They are lean and mean and ready to get to the work."

Westinghouse, owned by Japan's which is to be bought by a unit of Canada's Brookfield Asset Management Inc, is one of the world's leading suppliers of nuclear fuel and provides some form of service to 80 percent of the world's 450 commercial reactors.

Perry and Pradhan released a joint statement to "reaffirm their strong commitment to early and full implementation of our civil nuclear partnership, including the civil nuclear project". They also said the two countries would deepen cooperation on and gas, power, renewable and coal.

"In keeping with the shared objectives to provide a stronger business orientation to our cooperation, both sides noted with appreciation the growing investment of Indian companies in the and the beginning of and gas exports from the to India," they said in the statement.

The under has been looking to sell more products to India, the world's third-biggest buyer of

Pradhan said wants to buy more U.S. "subject to reasonable pricing". has also sought U.S. companies' participation in India's strategic petroleum reserves.

(Reporting by and Sudarshan Varadhan; Writing by Krishna N. Das; Editing by and Susan Fenton)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 17:58 IST