PTI reported that Nuclear Power Corporation of India Limited and L&T are likely to form a JV company to manufacture forging materials at an investment of INR 1,500 to INR 2,000 crore.

Mr Sudhinder Thakur executive director corporate planning of NPCIL said that the two companies have taken a decision to form the JV but are yet to finalize other details. He added that "A decision has been taken by both parties to form a JV, but nothing has been finalized yet."

However, an L&T official said that that any opportunity in the power sector for equipment supply is interesting to L&T. He added that "We do not want to deny or confirm this particular development."