HCC joins UK firm for N-power
Leading engineering companies are lining up to tap business opportunities emerging in nuclear power generation, aided by the Indo-US accord on nuclear energy.business Updated: Sep 30, 2009 21:43 IST
Leading engineering companies are lining up to tap business opportunities emerging in nuclear power generation, aided by the Indo-US accord on nuclear energy.
A day after engineering leader Larsen & Toubro announced its big plans in the nuclear space, Ajit Gulabchand-led HCC announced its tie up with UK-based AMEC Plc to undertake contracts to set up nuclear plants.
AMEC, with sales in excess of $2.3 billion (Rs. 17,500 crore) a year, will help HCC execute wholesome execution of the contracts. HCC has been involved in the construction of 11 out of the 17 nuclear reactors in India.
Chairman & Managing Director Gulabchand said he was looking at a market of Rs 25,000 crore to Rs 30, 000 crore developing over the next five years which would mean around Rs 5,000 crore to Rs 6,000 crore of business opportunities every year.
HCC sees immense business opportunities with India embarking on big plans to enhance the current installed nuclear power capacity of 4120 MW (megawatts) to 20,000 MW by 2020.
“The HCC-AMEC combine will play a crucial role in the fast track development of this capacity,” Gulabchand.
“The partnership will enhance India’s ability to implement the new generation of nuclear power technologies. Our partnership will provide flexible and technology-independent platforms to reduce the cost of building new nuclear power plants in India.”
AMEC, he said, has a 50-year history of delivering highly complex new build programmes in the nuclear sector. From construction of the some of first civil nuclear power plants in the world to development of the latest designs, AMEC has a broad experience in various reactor technologies.