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| McNally Bharat eyes nuclear EPC with Areva |
| BS Reporter / Kolkata Nov 24, 2009, 00:13 IST |
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McNally Bharat Engineering Company is eyeing a foray into nuclear EPC (engineer-procure-construct) contracts with Areva, which has an understanding with Nuclear Power Corporation of India Limited, for setting up nuclear reactors.
Srinivash Singh, managing director, McNally Bharat said, “We already have a relationship with Areva in some projects and may look at the nuclear power eventually.”
Meanwhile McNally Bharat has completed the process of acquisition of the coal and mineral technology division of KHD Humboldt Wedag, Germany through its subsidiary company, MBE Holdings Pte Limited, Singapore.
The new acquisition has brought to the fold four subsidiary companies, MBE Coal & Mineral Technology GmbH, Cologne, MBE Minerals SA (Pty) Limited, South Africa, McNally Humboldt Wedag India and MBE Cologne Engineering GmbH.
Singh said, the company was in the process of appointing consultants for capital restructuring. At least three consultants—KPMG, Accenture and Ernst & Young—for the restructuring while PricewaterhouseCoopers was already advising McNally Bharat on organization restructuring.
McNally Bharat Engineering is aiming for a sales turnover between Rs 5,000 crore and Rs 7,000 crore by the year 2015.
As part of its growth plans, the company has expanded its production base in all its four existing manufacturing units at Kumardhubi, Asansol, Bangalore and Baroda. The Baroda unit has recently acquired 40 acres in order to double the existing capacity of the unit and also set up a centre of excellence and manufacturing facilities for oil and gas and nuclear power equipment.
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