BHEL signs MoU for nuclear power projects

New Delhi: Bharat Heavy Electricals Ltd (BHEL) and Nuclear Power Corporation of India Ltd (NPCIL) on Friday signed a memorandum of understanding to float a joint venture company for executing engineering, procurement and construction (EPC) contracts for nuclear power projects in India and abroad.

The ownership of the proposed firm and the financial details would be worked out by the two partners in due course. The venture, which is expected to be operationalised around the end of 2009, is likely to rope in a technology partner.

“We will be putting in an investment of Rs 200-250 crore in the joint venture. The joint venture is looking for a technological partner, which would be an international company,” BHEL’s Chairman and Managing Director, Mr K. Ravi Kumar, told reporters here.