By Bibhudatta Pradhan and M.C. Govardhana Rangan
Oct. 4 (Bloomberg) -- The U.S. and India will sign the civil nuclear energy agreement, conceived in 2005, once President George W. Bush gives his approval to the bill that's just been approved by Congress.
``The president will sign the legislation very soon,'' U.S. Secretary of State Condoleezza Rice said in New Delhi today at a joint press conference with Indian counterpart Pranab Mukherjee.
The nuclear agreement, passed by the Senate Oct. 1 by a vote of 86-13, allows U.S. nuclear suppliers to trade with India for the first time since it tested an atomic bomb in 1974. The Bush administration made the accord a top foreign-policy priority as a way to lock in potential political and economic links far beyond the nuclear-energy industry.
India expects the agreement to be signed shortly, said Foreign Minister Mukherjee.
After President Bush approves the bill, the process will be complete and ``we will be in a position to sign the agreement at a mutually convenient date,'' Mukherjee said.
The remaining steps were procedural, according to Rice.
``I don't want anyone to think that we have open issues,'' she told reporters in New Delhi today. ``We don't have open issues. These are administrative issues of signing.''
Rice also said that the various pieces of legislation tied to the agreement weren't contradictory.
``We make clear again that the Hyde Act is completely consistent with the 123 agreement we signed with India and the 123 agreement is consistent with the Hyde Act,'' Rice said. ``The U.S will keep its commitments to both.''
Talks With Companies
India aims to start final negotiations next week with General Electric Co., Areva SA, Westinghouse Electric Co. and Rosatom Corp. on building reactors as early as next year.
``The dream is to start work next year,'' S.K. Jain, chairman of state-owned Nuclear Power Corp. of India, the nation's monopoly atomic energy utility, said in a telephone interview yesterday. ``But there's a full set of procedures to be followed after the companies agree.''
India had been waiting for U.S. approval before starting talks with companies.
``We will begin focused negotiations with the four short- listed companies, GE, Areva, Westinghouse and Rosatom, starting next week,'' Jain said. Getting the projects started ``can take anywhere between three to eight months. The hesitation is over.''
Nuclear Power will also seek to buy fuel for the reactors that it's planning to set up.
``We are also looking to buy more nuclear fuel or yellow cake by year-end and plan to start work at two sites, in Jaitapur in Maharashtra and Kudankulam in Tamil Nadu,'' Jain said.
India Visit
Rice is meeting officials including Prime Minister Manmohan Singh and opposition leader L.K. Advani in New Delhi. She will also visit Kazakhstan during her Oct. 3-5 trip, the State Department has said.
The discussions in India included a range of issues other than the nuclear agreement, including trade, counterterrorism, human rights, religious freedom, education and the region.
India has been assured by Pakistan's President Asif Ali Zardari that his country's territory won't be used to carry out terrorist activities against India, Mukherjee said.
``We all have a stake in a successful civilian government in Pakistan that can deal with Pakistan's considerable challenges, be they economic, political, or particularly, internal security,'' Rice said. ``Pakistan, more than anyone else, has an interest in fighting terrorism.''
To contact the reporters on this story: Bibhudatta Pradhan in New Delhi at bpradhan@bloomberg.net; M.C. Govardhana Rangan in Mumbai at grangan@bloomberg.net.
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