Monday, November 5, 2007

L&T, Japan's MHI in Rs880cr steam turbine JV

Engineering and construction major Larsen & Toubro (L&T) has entered into a joint venture (JV) agreement with Mitsubishi Heavy Industries (MHI) for setting up a supercritical steam turbine and generator manufacturing facility in the country, with a capital outlay of around Rs 880 crore.

This follows a technology licensing and technical assistance agreement for manufacture of supercritical turbine & generators, signed amongst L&T, MHI, and Mitsubishi Electric Corporation.

Supercritical turbines use higher steam temperatures and pressures than sub-critical pressure power generation, and are more fuel-efficient and environment friendly. Supercritical technology coal-based plants reduce fuel consumption relative to power output through which carbon dioxide (CO2) emissions can be reduced by about 2.5%.

The turbines are expected to meet the demand/supply gap for power plant equipment as envisaged in the country's plan for a mega ramp-up in power generation capacity.

The proposed manufacturing JV will have a product configuration catering to plant capacities ranging from 500 MW to 1000 MW. The manufacturing operation expected to commence sometime during the later part of 2008-09.

Mitsubishi Heavy Industries, headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of around $25 billion. MHI's diverse lineup of products and services includes shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems.

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