India Seeks $9 Billion Loan For Westinghouse Reactor

India is reportedly negotiating with the U.S. government’s Export-Import Bank for a loan of up to $9 billion in order to help finance a six-unit nuclear unit that involves Westinghouse Electric‘s AP1000 technology, reports Nuclear Street. However, with the presidential elections ahead, the current situation at the bank is not very favorable: the bank is not allowed to make loans over $10 million with fewer than three directors at the helm, and currently, there are only two directors in place.

Kakrapar Nuclear Energy Plant

According to Times of India, Vijay Sazawal, director of the International Atomic Energy Consulting in Washington, said, “the goal right now is to get that financing done during President Obama’s tenure, knowing full well that it may or may not stick in a new administration following the … presidential election.”

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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