With the Indo-US nuclear deal set to become a reality, big boys of India Inc are stepping up efforts to capitalise on business opportunities. Larsen & Toubro, the diversified engineering conglomerate, is exploring possibilities of forming a joint venture with leading nuclear power generation firms from the US and Europe.
The company is in advanced stages of negotiations with General Electric (GE) and Westinghouse Electric Corporation of the US, Areva of France and Atomstroyexport of Russia.
Officials of these firms have recently visited L&T’s facilities, said an official close to L&T. These firms are bidding for nuclear reactors for the proposed 40,000 mw nuclear power programme. Nuclear Power Corporation will commence bidding processes for the programme shortly.
“They have inspected our plants and certified the facilities. The talks are on to set up joint ventures with these firms with equity participation in specific projects,” a company source said.
Areva, GE, Westinghouse Electric Areva of France and Atomstroyexport of Russia did not respond to e-mail queries on the subject.
L&T recently formed a $750 million JV with Nuclear Power Corporation of India to manufacture forgings and firewalls for nuclear power plants.
“We are in talks with four firms two from the US, one from France and one from Russia. The road map for the cooperation will evolve after the bilateral discussions and issues related to the private participation in nuclear power sector in India,” said MV Kotwal, senior vice president (engineering ad construction) and member of board, L&T. AM Naik, L&T chairman & MD, had told recently told shareholders that nuclear power generation would provide big opportunities for Indian corporate houses.“This will open up a $100 billion opportunity for India Inc,” he had said.
{{/usCountry}}“We are in talks with four firms two from the US, one from France and one from Russia. The road map for the cooperation will evolve after the bilateral discussions and issues related to the private participation in nuclear power sector in India,” said MV Kotwal, senior vice president (engineering ad construction) and member of board, L&T. AM Naik, L&T chairman & MD, had told recently told shareholders that nuclear power generation would provide big opportunities for Indian corporate houses.“This will open up a $100 billion opportunity for India Inc,” he had said.
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