India’s L&T, Mitsubishi Heavy in Boiler-Making JV
Indian engineering and construction firm Larsen & Toubro Ltd. (LART.BO: Quote, Profile , Research) said on Today it had formed a joint venture with Japan’s Mitsubishi Heavy Industries to manufacture super-critical boilers in India.
The venture, which follows a technology agreement between the two companies, will have a capital outlay of about 3 billion rupees ($72 million), L&T said in a statement.
The facility will cater to plant capacities ranging between 500 MW to 1000 MW and start production in the latter part of the fiscal year to 2009, L&T said.
The joint venture will have its engineering center in New Delhi, but the site for the manufacturing facility would be announced later, the company said.
“We have two or three locations in mind. Hazira is one of the choices and another one is Chennai,” A.K. Chatwani, senior vice-president of power business at L&T, told Reuters.
In November, the companies signed a deal where Mitsubishi Heavy would grant a 20-year exclusive license and supply technical know-how for making super-critical boilers, used in coal-fired power plants, to L&T’s power business unit.
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