Hijjah 30, 1431, Dec 06, 2010, SPA -- India and France signed a multibillion agreement Monday to build two nuclear power plants in India as French President Nicolas Sarkozy worked to drum up business for his nation during his four-day visit here. Areva SA, one of France's main nuclear power companies, will build two European pressurized reactors of 1,650 megawatts each at Jaitapur in the western Indian state of Maharashtra, the Associated Press reported. The agreement, valued at about $9.3 billion, was signed in the presence of Sarkozy and Indian Prime Minister Manmohan Singh. The deal marked the first two of 20 nuclear reactors India wants to build to meet its soaring energy demand. Sarkozy and Singh later met to discuss regional security, trade and investment. The talks were also expected to touch on plans for the structural reform of the international monetary system through the Group of 20 countries, currently headed by France. Sarkozy, who arrived Saturday, is accompanied by his defense, foreign and finance ministers and nearly 60 business leaders. Bilateral trade declined in 2009 due to global economic woes, but was on the upswing this year, said Vishnu Prakash, India's external affairs ministry spokesman. The two countries have set a trade target of 12 billion euros ($15.8 billion) for 2012. Sarkozy is to visit Mumbai before returning home Tuesday.
