image credit: the hindu businessline
Megha Engineering & Infrastructures (MEIL), an Indian multi-sector infrastructure corporation, received a contract for 128 billion rupees ($1.53 billion) in a tender issued by the Nuclear Power Corporation of India.
MEIL said on Wednesday that the deal covers the building of two 700 megawatt (MW) electrical reactors at Kaigs in the southern Indian state of Karnataka, making it the highest-valued offer ever issued by the state-run NPCIL.
India plans to invest $26 billion in its nuclear energy industry to improve the quantity of power generated from non-carbon dioxide sources.
NPCIL owns and runs the country’s present fleet of nuclear power reactors, and its most recent contract attracted proposals from infrastructure giant Larsen & Toubro and state-owned Bharat Heavy Electricals MEIL noted.
“This contract represents the most significant project for MEIL and our strategic entry into the nuclear energy sector,” MEIL Director Ch Subbaiah said.
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