L&T, Westinghouse Electric in nuclear deal
Larsen & Toubro has signed a memorandum of understanding with Westinghouse Electric for building and supplying equipment for India’s nuclear power plants.business Updated: Jan 16, 2009 21:05 IST
Larsen & Toubro, India’s largest technology, engineering & construction company has signed a memorandum of understanding with Westinghouse Electric, the US-based company focused on nuclear power generation, for building and supplying equipment for India’s nuclear power plants.
The MoU will have far-reaching consequences on L&T’s capabilities and prospects in acquiring expertise in the high-technology field of commercial nuclear power generation.
“The total opportunity in the medium- to long-term for India is close to Rs 75,000 to 80,000 crore,” said MV Kotwal, senior executive vice-president, L&T.
The MoU is the first in a chain of such tie-ups, he added. The present understanding would be in the field of building modular pressurised light water nuclear reactors, a technology used extensively in other parts of the world, said a release from the company.
Westinghouse has signed an agreement in 2007 with the Chinese government to deliver at least four similar reactors, named AP1000, said Meena Mutyala, vice president, Westinghouse. “India is emerging as the third largest market for nuclear power after the US and China,” Mutyala added.