CHENNAI: Burgeoning credit rates in India will neutralise cost-cutting plans mooted by the Nuclear Power Corporation of India for the upcoming units 3 and 4 in Koodankulam. After working closely with Russian experts at units 1 and 2 of KKNPP, India is looking to localise up to 45 per cent of work in the upcoming units, Shiv Abhilash Bhardwaj, Director (Technical), NPCIL, said. While most of the equipment would be supplied by Russia, operations like sea water pumping, power supply, air conditioning and control systems, would be managed by local persons. However, the scientist said that savings out of this localisation could be minimal owing to high interest rates in India. “In Russia, credit is given at low interest rates. When NPCIL does the work by itself, it has to take loans from Indian banks. The interest rate in the country is increasing and the inflation is high,” he pointed out.
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