Mumbai, Jan. 16: Larsen & Toubro (L&T) today joined hands with Westinghouse Electric Company (WEC), a Toshiba group company, to pursue nuclear power plant business in India.
Under a memorandum of understanding signed between the two firms, Westinghouse will focus on design, engineering and procurement of major components for nuclear power plants while L&T will be responsible for construction and fabrication of structural, piping and equipment modules.
L&T expects an order book of Rs 60,000-80,000 crore from nuclear power business by 2020.
The MoU with WEC is for modular nuclear reactors. In L&T, our focus will be on providing a one-stop-shop solution for nuclear power plants, M.V. Kotwal, L&Ts senior executive vice-president said.
Meena Mutyala, vice-president and business leader of Westinghouse, said after the US, China and India were the big markets.
The announcement of the MoU saw the L&T stock gaining 1.8 per cent on the Bombay Stock Exchange to end at Rs 717.60.