India in Talks for Nuclear Reactors

Areva SA expects to sign a contract by December to build two reactors for Nuclear Power Corp. of India Ltd., the chairman of the French company's local unit said Wednesday. Areva and others such as GE Hitachi Nuclear Energy and Westinghouse Electric Co. are aiming to capitalize on India's plans to spend billions of dollars to boost its nuclear power capacity 15 times to 63 gigawatts by 2032. More than half of India's 201 GW of total power generation capacity is based on coal, which is in short supply. India is in talks with Russia, France and South Korea to buy nuclear reactors for power plants, said V. Narayanasamy, junior minister at the prime minister's office.