US, European firms quoting higher prices for equipment: CEA

New Delhi: The government on Friday indicated its preference for buying nuclear power equipment for the country's atomic power projects from Russia, saying US and European companies are quoting higher prices.

"European and American costs are higher than the indigenous manufacturers," Chairperson of Central Electricity Authority Rakesh Nath told reporters on the sidelines of a CII event.

"Russian prices seem to be ok," he said when asked about prices quoted by foreign and Indian firms.

India and Russia signed an agreement on cooperation on peaceful uses of atomic energy in Moscow during prime minister Manmohan Singh's visit last week.

Nath did not disclose the names of the US and European companies that have quoted higher prices. "...cannot give you (the prices quoted by the foreign firms) in percentage term but the only thing is that they are higher," he said.