Mitsui Babcock Starts Indian Operations

While Mitsui holds 75 per cent of the equity in the venture the remaining stake is in the possession of Babcock. The newly floated company is expected to encroach on the domestic power equipment market of former Babcock subsidiary, ACC Babcock (ABL), currently owned by Babcock's rival multinational ABB of Sweden.

The fledgling subsidiary's business interests include supply of boilers and associated equipment for power plants and associated industries, rehabilitation, refurbishment and modernisation of old Babcock designed boilers and sale and marketing of spares for Babcock boilers.

The Indian subsidiary will bid for power equipment tenders in the country in its own capacity as well as on behalf of its parent company, Mitsui Babcock Energy.

The parent company has bid for three Indian power projects