India

In a recent visit to Russia, Prime Minister Manmohan Singh stated that both countries have finalised the terms and conditions for a Russian loan for the construction of the third and fourth units of the Kudankulam nuclear power project. However, no agreement was signed. In our view, this could be due to the recent enactment of India's new nuclear liabilities laws, and more delays can be expected. We note that protests against the first two reactors have already intensified in several southern districts of Tamil Nadu since the Japanese nuclear crisis in March 2011.

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