Larsen & Toubro hopes to build nuclear reactors as nuclear-deal logjam ends.

Larsen & Toubro hopes to build nuclear reactors in partnership with Westinghouse Electric Company and is exploring other partnerships after India and the US cleared the way for implementing a bilateral agreement signed in 2008.

Prime Minister Narendra Modi and US President Barack Obama, who was the chief guest at the Republic Day celebrations on Monday, said understanding had been reached on issues of civil nuclear liability and administrative arrangements for civil nuclear cooperation.

They looked forward to US-built nuclear reactors contributing to India's energy security at the earliest, according to a statement issued by the two leaders.

'We believe it is a positive for India's nuclear power plans. While the details on the liability issue and insurance pool are not yet available, there is some relief that the two countries have reached some understanding and that things are moving in the right direction,' said MV Kotwal, whole-time director & president (heavy engineering) at the engineering major.


ET