WASHINGTON ¨C U.S. President Barack Obama and Indian Prime Minister Narendra Modi on Tuesday welcomed the start of preparatory work on six nuclear reactors in India, a key step in closing the first deal stemming from a U.S.-India civil nuclear accord struck over a decade ago.
The two leaders said in a joint statement that India and the U.S. Export-Import Bank intend to work together toward a competitive financing package for the project and will work to finalize contractual agreements by June 2017.
¡°Once completed, the project would be among the largest of its kind, fulfilling the promise of the U.S.-India civil nuclear agreement and demonstrating a shared commitment to meet India¡¯s growing energy needs while reducing reliance on fossil fuels,¡± the joint statement said.
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