Punj Lloyd, Nuvia to form JV firm to support nuclear sector

Punj Lloyd Ltd. | Engineering - Construction | Construction & Infrastructure | BSE: 532693 | NSE: PUNJLLOYD

30 Sep 2010 Evaluate

Infrastructure major Punj Lloyd will form a joint venture with French firm Nuvia for providing engineering and support services to the country's emerging nuclear sector. The joint venture will be incorporated between PL Engineering, a group company of Punj Llyod, and Nuvia India-- the Indian arm of the French company.

It will be a 50:50 joint venture. However, the nittie-gritties of the joint venture including investments will be sorted out in next 120 days. The proposed JV between the two companies would initially focus on providing services to the Indian nuclear sector, which is expected to increase its power generation capacity to 20,000 Mw by 2020 from the existing over 4,500 Mw. The JV, once incorporated, would also look for opportunities in the growing markets such as Abu Dhabi and South Korea.

Nuvia, the nuclear arm of French construction and concession company Vinci SA, provides wide range of services, including construction, engineering, nuclear research and development, design, operations, among others to power producers and turnkey operators.crack crack