L&T inks pact with US N-power reactor maker

MUMBAI: Larsen & Toubro (L&T), the country���s largest engineering company, on Friday signed a memorandum of understanding (MoU) with US-based nuclear power firm Westinghouse Electric Company (WEC) to manufacture modular nuclear power reactors.

Announcing the MoU, MV Kotwal, whole-time director of L&T, said L&T���s partnership with WEC, which operates around 40% of the total nuclear plants world over, would enable the company to leverage indigenous capability for the turnkey construction of nuclear power plants, including the supply of reactor equipment and systems.

���L&T intends to play a key role in nuclear power sector by building strong partnerships with leading companies in the field,��� he said. Mr Kotwal said India can attract an investment worth Rs 60,000 -80,000 crore by 2020 in nuclear power sector.

Meena Mutyala, vice-president, global growth and innovation, WEC, said: ���India���s Atomic Energy Commission has assured orders to construct nuclear power plants of about 10,000 mw to the US companies. WEC is looking at more potential partners in India to get localised knowledge to tap the huge nuclear power potential in the country.���

She said the US company is also exploring a possibility of partnership with Nuclear Power Corporation of India to set up nuclear power plants in the country. ET on July 26 had reported that many global nuclear power firms, including WEC, were in talks with L&T for a possible joint venture.