Engineering and construction major Larsen & Toubro Ltd is planning to build 3,000-4000 MW of nuclear power every year and is seeking contracts to build complete atomic power stations, its chairman and managing director A M Naik said.
The company projects an annual revenue of Rs7,000-8,000 crore over the next 12-18 months from building entire plants for Nuclear Power Corporation of India, compared with about Rs2,000 crore if the construction is given to different builders, Naik told reporters in New Delhi.
''A lot of this revenue growth will depend on NPCIL ordering equipment on a turnkey basis, and not adopting a piecemeal approach. We are geared to take up nuclear projects on a turnkey basis. The revenues would increase close to Rs 2,000 crore annually if the present system of ordering continues,'' he said.
Having officially entered the nuclear club, India hopes to increase its nuclear power by more than 100 times in four decades, a target set by Prime Minister Manmohan Singh himself.
L&T, which has already entered into agreement with four major global vendors of nuclear power equipment, has also initiated talks with French technology company Areva for a possible nuclear power plant development agreement.
''There are only five major nuclear power reactor makers in the world. We have already teamed up with four and are looking at similar arrangement with Areva to complete the chain,'' Naik said.
L&T already has a relationship with the French company, and Areva has recently given it orders for spent fuel canisters meant for export markets. (Also see: L&T eyes Rs6,000 crore revenue from nuclear equipment)