Areva has announced that it is preparing to start work at the proposed 1650MW nuclear power plant at Jaitapur in Maharashtra. The French foreign trade ministry has already signed a MoU between state-run Nuclear Power Corp. of India (NPCIL), and Areva. Areva would supply the equipment for the nuclear power project to be developed by NPCIL. Both India and France have agreed to set up six units of European Pressurised Reactors over the next 12 to 15 years, and the total funding needs for setting up 10GW capacity is estimated at USD 21.5 billion.
