India and Russia have inked an agreement to set up two more atomic power plants at Kudankulam, Tamil Nadu.
The fifth and sixth unit of India’s largest nuclear power plant in Tamil Nadu will entail an investment of about Rs 50,000 crore with half of it being funded by Russia as loan.
USD 4.2 billion will be lent by Russia to cover up the construction cost. The entire project will be funded in 70:30 debt-equity ratio.
The first unit will be commissioned in 66 months and the second after six months. The plant’s first unit has already been put into operation and the second unit has started generating electricity. Units 3 and 4 are expected to be commissioned by 2022-23