NPCIL to form JV with L&T

Mumbai: Nuclear Power Corporation of India Ltd (NPCIL) is likely to create a joint venture with L&T, for forgings develop.

Mr S. Thakur, Executive Director (Corporate Planning) of NPCIL, said since forging companies have more work that they can handle, in many instances the forging are being delayed by six years.

They also demand exorbitant prices for the work. Therefore the new company is being set up, he said. Mr Thakur said that details of the propos ed joint venture like financial structure and location of the company are being worked out, he said.