L&T to ink deal with 2 global N-reactor makers

Larsen & Toubro (L&T) is planning to sign co-operation agreements with US-based General Electric Hitachi and France-based Areva in three to four weeks to foray into the nuclear power plant construction business.

The engineering and construction company already has a cooperation agreement in place with three other major reactor makers — Russia’s Atomstroyexport (ASE), US based Toshiba Westinghouse and Atomic Energy of Canada.

In addition to India, the deal covers cooperation on projects in various other regions, making L&T a major player in global reactor construction.India’s civil nuclear power program is set for a takeoff following the country’s entry into the Nuclear Suppliers Group (NSG) after a three-decade ban.

This is slated to offer an opportunity worth $60 billion for the global nuclear industry as India plans to add about 60,000 mw capacity by 2032.