Third partner in nuke JV to be named next month: Bhel

Power equipment manufacturer Bhel today said it would announce next month the third partner in its proposed joint venture with NPCIL for providing engineering, procurement and construction services in nuclear power sector.

"The third partner in the proposed JV with NPCIL would be announced by March," Chairman and Managing Director Bhel B P Rao told reporters here.

On being asked, how much equity would be picked up by the third partner, he said, "It would be decided then (in March) only."

Public sector companies Bhel and Nuclear Power Corporation signed an agreement in April 2008 to form a JV for providing engineering, procurement and construction services in nuclear power sector.

Bhel is focusing on nuclear power generation and is exploring technology tie-ups for manufacturing turbine and generator sets. The turbines would be manufactured at the company's Bhopal unit.

Alstom India, a subsidiary of French firm Alstom, had earlier evinced interest in joining as the technology partner in the proposed JV.