'US, European firms quoting higher prices for nuclear equipment'

The government today indicated its preference for buying nuclear power equipment for the country's atomic power projects from Russia, saying US and European companies are quoting higher prices.

"European and American costs are higher than the indigenous manufacturers," Chairperson of Central Electricity Authority Rakesh Nath told reporters on the sidelines of a CII event.

"Russian prices seem to be ok," he said when asked about prices quoted by foreign and Indian firms.

India and Russia signed an agreement on cooperation on peaceful uses of atomic energy in Moscow during Prime Minister Manmohan Singh's visit last week.

Nath did not disclose the names of the US and European companies that have quoted higher prices. "...Cannot give you (the prices quoted by the foreign firms) in percentage term but the only thing is that they are higher," he said.

Nath's comments came as a commercial delegation of US companies such as GE Hitachi, Westinghouse, Babcock & Wilxcox is visiting the country to explore opportunities in India's nuclear energy sector.

The American companies yesterday interacted with Indian firms such as the Nuclear power Corporation, NTPC, Tata Power and GMR in Mumbai yesterday.

GE Hitachi has meanwhile begun talks with BHEL, Bharat Forge and Larsen and Toubro for making atomic power equipment.

After getting a waiver from the Nuclear Suppliers Group in September, 2008, India has signed civil nuclear cooperation with countries like the US, Russia and France.

Following the agreements, India has set an ambitious target of adding 20,000 MW of nuclear power by 2020.