Mumbai: Russia will build four more nuclear reactors in Tamil Nadu under an agreement for which the two countries have completed negotiations.

"We have finalised negotiation in regard to reaching agreement on building additional nuclear power plants in India," prime minister Manmohan Singh said in the presence of the Russian deputy prime minister Victor Zubkov.

Zubkov, who is leading a 150-strong business delegation to the country, also affirmed his country's commitment to building the nuclear plants in Kudankulam, Tamil Nadu.

The agreement was to be signed during Manmohan's visit to Moscow in November last year but it was put off because of lack of NSG waiver.

Russia, however, will still have to await a waiver from the nuclear suppliers group, for which efforts are underway.

Russia is building two 1,000 megawatt reactors at Kudankulam as part of a deal signed in 1988. Russia agreed in January that it intended to build four more reactors at the site.

During talks between both prime ministers, the two countries also decided to step up all-round cooperation with particular focus on defence, hydrocarbons, trade and economic ties.

They set a bilateral trade target of $10 billion by 2010, for which the two will consider recommendations of a joint task force for a comprehensive economic cooperation agreement (CECA).

The two countries also signed two MoUs - one on development of cooperation in matters of customs and another in the field of archives.

The two sides also felt the need for diversifying the trade basket and expanding cooperation in the areas of minerals, diamonds, transport, services, investment and high technology.

Manmohan said the two sides agreed that "vast potential" existed for cooperation in the field of hydrocarbons.

He hoped that the ongoing discussions between oil and gas companies of the two countries would result in finalisation of joint projects in India, Russia and third countries.

Addressing a meeting organised jointly by industry bodies FICCI and CII, Zubkov said the Russian rupee debt funds are being utilised for the newly launched titanium project in Orissa.

Zubkov said the two sides have set priorities, with particular attention to trade and economic relations.

Commerce and industry minister Kamal Nath, meanwhile, said the Russian firms were interested in a several sectors, including engineering, metallurgy, automobile, aircraft building and infrastructure development.

Zhukov also inaugurated the India-Russia Chamber of Commerce, which will act as a "bridge" between business communities of the two countries.