NPCIL signs uranium supply deal with Kazakhstan

New Delhi: Nuclear Power Corporation of India (NPCIL) signed a memorandum of understanding with Kazakhstan’s national company, KazAtomProm. The agreement will enable India to mine and purchase the fuel for its nuclear power plants.

The agreement between Kazatomprom, Kazakhstan’s state-run uranium miner, and Nuclear Power Corp covers mining of natural uranium, supply of uranium products to nuclear power plants in India and training, state-owned NPCIL said in a statement.

Kazakhstan also expressed interest in building power plants using Indian technology, the statement said.

This was one of the five pacts signed between India and Kazakhstan here as part of the ongoing visit of Kazakhstan President, Mr Nursultan Nazarbayev.

A Heads of Agreement for exploration of oil and gas in Satpayev Block in the Caspian Sea was also signed between ONGC Mittal Energy Ltd (OMEL) and KazMunaiGaz (KMG), National Oil Company of Kazakhstan.

OMEL is a joint venture between ONGC Videsh Ltd (OVL) and Mittal Investments Sarl. OEML stake in the block will be close to 25 per cent.

The agreement is in pursuance to the MoU that was signed between OVL and KMG in February 2005 for cooperation in the oil and gas sector of Kazakhstan. The two companies are now actively pursuing together with the Government of Kazakhstan for finalisation of the exploration and production contract, an official statement adds.

A protocol on the accession of Kazakhstan to the World Trade Organisation and an MoU between the Indian Space Research Organisation and National Space Agency of Kazakhstan on cooperation in the field of space activities were also signed.

Later addressing a joint meeting of business leaders, the President, Mr Nazarbayev, called on the Indian business community to invest in the Central Asian Republic.