India builds the cheapest nuclear reactors in the world. The completion cost for the indigenous 700 MW pressurized heavy water reactors (PHWRs), which is under construction, is $1,700/kwe, government told Parliament on Thursday. Indian reactors, government said, compares favourably with other reactors in the world.

Government also stated that the Kudankulam nuclear power plant, being operated by NPCIL, would come under the Civil Nuclear Liability Act. This is the first time the government has openly admitted this, in the wake of the Russian government’s objections and their insistence that the KNPP be kept under the inter-governmental agreement.

In fact, the Russian government has also threatened to increase the costs for Kudankulam 3 and 4, if they are brought under the Indian liability law. The government also stated that the delay in commissioning Kudankulam 1 and 2 has increased the cost from Rs 13,171 crore to Rs 17,270 crore.

The overnight costs of South Korean reactors are higher than Indian. South Korean nuclear reactors are generally believed to be the cheapest, the South Koreans having won a prestigious UAE nuclear reactor contract. The Korean OPR-1,000 and APR-1,400 cost $1,876/kwe and $1,556/kwe. The government said Indian reactors have an overnight cost of $1,150/kwe.

Meanwhile, a joint venture company between NPCIL and Uranium Corporation of India (UCIL) would be formed to acquire uranium assets overseas.