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BHEL, NPCIL looking for foreign partners

NEW DELHI: Bharat Heavy Electricals Ltd. (BHEL) and Nuclear Power Corporation of India Ltd. (NPCIL) have stated that they were looking at France, Germany and the U.S. for roping in a technological partner for their joint venture to build nuclear power projects in India and abroad.

BHEL and NPCIL signed a memorandum of understanding (MoU) on Friday to float a joint venture that would carry out engineering, procurement and construction activities for nuclear power projects.

BHEL Chairman and Managing Director K. Ravi Kumar (Additional Charge) said the joint venture was scouting for a technological partner and was in talks with companies in France, Germany and the U.S.

“The technological partner has to be an international firm. We are in talks with firms, essentially in France, Germany and the U.S.,” Mr. Kumar said.

He said the equity participation and the financial details would be worked out jointly by the companies and the technological partner. The joint venture was expected to start operations in the next 18 months.

BHEL’s existing facility in Bhopal would be leveraged by the joint venture, in which an initial investment of Rs. 200-250 crore would be made.

If required, the joint venture company would set up a facility for manufacturing 1,000 MW generator sets, for which huge capital would be required, Mr. Kumar said.

BHEL has commissioned about 80 per cent of the 4,120 MW installed capacity of NPCIL, the largest nuclear power utility in the country.

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