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Leading engineering and construction company Larsen and Toubro (L&T) has tied up with Westinghouse Electric Company (WEC) of US to set up new nuclear power reactors. The two companies signed a Memorandum of Understanding (MoU) on Friday (January 16). Under the newly signed agreement, both L&T and WEC will utilise indigenous capabilities for the construction of nuclear power plants including supply of reactor equipment and systems, valves, electrical and instrumentation products.
WEC-L&T deal came in the wake of the agreement signed between India and US last year on cooperation in the field of civilian nuclear power. US-based Westinghouse Electric is a unit of Toshiba Corp group company. WEC supplies nuclear plant products and technologies to utilities across the world. The company operates about 40 percent of nuclear plants all round the globe. Toshiba Corp bought WEC for $5.4bn in January 2006.
India's largest engineering and construction conglomerate, L&T also focuses on electricals, electronics and IT. Besides its domestic presence, the company has a global spread of over 30 offices. The company is in strategic alliance with world's leading firms. The Engineering Construction & Contracts Division of L&T has accomplished several important constructions in the country. By joining hands with US-based company, L&T will surely enhance its portfolio and will play a vital role in country's nuclear energy development plan.
