Punj Lloyd arm in French nuclear JV | business | Hindustan Times
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Punj Lloyd arm in French nuclear JV

Punj Lloyd Group company PL Engineering on Wednesday entered into an agreement with the Indian unit of French nuclear engineering company Nuvia to form a joint venture for nuclear energy-related services in the country.

business Updated: Sep 29, 2010 22:53 IST

Punj Lloyd Group company PL Engineering on Wednesday entered into an agreement with the Indian unit of French nuclear engineering company Nuvia to form a joint venture for nuclear energy-related services in the country.

The company said it had taken a strategic decision to enter the nuclear supply chain segment following acceleration in the nuclear industry.

“The skill-set and experience in working in highly-regulated market sectors such as oil and gas are readily transferable to the emerging nuclear sector.”

PL Engineering did not divulge any financial details of the JV, in which both the companies will hold equal stakes.

“We intend to play our part in India’s nuclear expansion plan and are delighted to have entered into a partnership with Punj Lloyd Group to leverage existing opportunities,” said Jerome Stubler, chairman, Nuvia.