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Economy

Nuclear power plant builders see new opportunities in India

NEW DELHI/TOKYO U.S., Japanese and French companies are eyeing the Indian nuclear power plant market as demand for new reactors stagnates in developed economies, and as concerns mount regarding China's growing presence in the industry.

U.S. President Barack Obama and Indian Prime Minister Narendra Modi agreed at a June 7 summit that U.S. nuclear reactor maker Westinghouse Electric, a subsidiary of Japan's Toshiba, would build power plants in the South Asian nation. In a statement following their meeting in Washington, Modi and Obama said they welcomed the announcement by the Nuclear Power Corp. of India and Westinghouse that they would finalize a contract by June 2017. The two companies had said they would immediately begin the work of designing reactors and selecting locations.

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