November 20, 2008

L&T eyes INR 2000 crore JV with NPCIL

BS reported that Larsen & Toubro is planning to form a INR 2,000 crore forging venture with Nuclear Power Corporation of India as the nation pursues talks with the US for civilian atomic technology.

Mr Sudhinder Thakur ED of NPCIL said that "We have been in discussions with Larsen for the last few months for setting up a forgings venture.” However, he declined to give details.

Mr Thakur said that “India is seeking to import nuclear technology and fuel without joining the 1970 Nuclear Non Proliferation Treaty, increase nuclear power generation almost ten fold and end shortages of as much as 15 % during peak hours of demand. The government expects to generate as much as 63,000 mw nuclear power by 2030, compared with 4,120 mw now.”

He added that "We foresee a severe constraint on forgings supplies to power and other infrastructure projects in India.''