Russia to build a "dozen nuclear reactors" in India over the next 20 years

The countries recently signed billion-dollar energy and defence deals.

Reuters reported that India and Russia signed billions of dollars of defense and energy deals on Saturday at a summit that sought to inject new life into a relationship that has been tested by shifting global alliances and conflict in the Middle East.

Under the biggest agreement, a group led by Russian state oil major Rosneft (ROSN.MM) said it would pay $12.9 billion for a controlling stake in both India's Essar Oil and port facilities that it owns.

Also on display was Russia's nuclear prowess, with the second reactor of the Russian-built Kudankulam plant in Tamil Nadu hooked up to the grid and concrete being poured in a ceremony carried by a TV linkup to mark the start of work on the third and fourth reactors there.

Putin said that Russia would be able to build a dozen nuclear reactors in India over the next 20 years to back Modi's growth strategy for Asia's third-largest economy, which continues to suffer chronic power shortages.

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