Alstom to have 33.3% stake in NPCIL-BHEL venture

Nuclear Power Corporation of India (NPCIL) today said French power equipment maker Alstom will be the third partner and hold 33.3 per cent stake in the proposed joint venture with Bharat Heavy Electricals (BHEL).

"We have identified Alstom as our third partner in the venture, which will fabricate nuclear turbines. All three partners will have equal stake in the venture," NPCIL Chairman and Managing Director S K Jain told PTI.

NPCIL and BHEL last year announced floating a joint venture company to carry out engineering, procurement and construction activities for nuclear power projects both within and outside of the country on mutually beneficial terms.

The two state-owned firms, however, were on the look out to partner in the venture and zoomed in on Alstom because of its experience and capability.

The turbines would be manufactured at BHEL's Bhopal unit, a source said.

"The signing of the agreement for the joint venture will be done within this month," Jain said, adding that the investment in the venture would be less as compared to NPCIL's joint venture with Larsen & Toubro.