Dodsal, AEM to set up plant in India

The Dubai based Dodsal group and Atomenergomash (AEM), a Russian heavy equipment engineering company specialising in nuclear and conventional energy on Wednesday announced signing of a Memorandum of Understanding (MOU) to co-operate in the fields of manufacture and supply of power equipment for nuclear, thermal and oil and gas projects in India. HT reports.

The Dubai based Dodsal group and Atomenergomash (AEM), a Russian heavy equipment engineering company specialising in nuclear and conventional energy on Wednesday announced signing of a Memorandum of Understanding (MOU) to co-operate in the fields of manufacture and supply of power equipment for nuclear, thermal and oil and gas projects in India.

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A joint-statement from the two companies said, “Dodsal and AEM rallied around a plan to set up a manufacturing unit in India with an initial investment in the range of $150 million.”

The statement further said that the two companies have agreed to pursue opportunities for joint manufacture of power equipment and components for power projects, and to co-operate for the transfer of technology and rendering of consultancy services to pursue their common objectives.

The two sides have also agreed to follow a strict time line for the implementation of the contents of the MoU and have targeted start-up of commercial production by the first quarter of 2013.

“The joint activities take into account the bilateral agreements and international obligations of Russian and India,” the statement said.

Dubai-headquartered Dodsal Group, which employs over 25,000 people, has implemented 22 projects in the Middle East, Europe, Africa, Indian subcontinent and South-East Asia.