Another Indian engineering company has tied-up with a foreign firm with the nuclear opportunity in mind. Hindustan Construction Company (HCC) on Wednesday announced a memorandum of understanding with Amec, a British engineeringand project management company, to jointly explore the application of consulting and EPC (engineering,procurement and construction) services for establishing nuclear power plants in India.
The deal will give HCC access to the latest technologies and strengthen its capabilities in mechanical and electrical components space for nuclear power plants. HCC has built over 50% of India’s installed nuclear capacity.
HCC is aiming to get orders worth Rs 20,000-30,000 crore in the next 5-6 years for carrying out EPC work of nuclear power plants in the country.
“As per the government’s goal of having 20,000 mw nuclear power generation capacity by the year 2020, the total power plant building opportunity will be worth about Rs 1.5 lakh crore,” chairman and managing director Ajit Gulabchand said. “The services contracts opportunity out of this will be at about Rs 60,000 crore.”
HCC’s nuclear plant business currently has orders worth Rs 1,050 crore, from an atomic energy facility in Tamil Nadu, Vinayak Deshpande, its president for engineering and construction business, said. The firm’s total order book is at around Rs 15,000 crore.
As the country gets ready to increase its nuclear power generation from the existing 4,120 mw to 4,70,000 mw by 2050, the country’s engineering and construction companies are tying up with international majors to equip themselves in the area.
Larsen & Tubro, another engineering and construction company, has signed MoUs with world’s leading nuclear power technology providing companies like GE-Hitachi and Russia-based Atomstroyexport among others.
(With Reuters inputs)
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