MEIL bags ₹12,800 cr tender from NPCIL for construction of two electrical reactors

  • MEIL's foray into the nuclear power space comes at a time when the Union government is looking at increasing India's nuclear power capacity.

Rituraj Baruah
First Published26 Jun 2024, 08:21 PM IST
The tendering process began in May 2023, and the technical bids opened in October 2023.
The tendering process began in May 2023, and the technical bids opened in October 2023.

New Delhi: Hyderabad-based Megha Engineering & Infrastructure Ltd (MEIL) has bagged an engineering, procurement, and construction (EPC) contract by the state-run Nuclear Power Corp. of India Ltd (NPCIL) for construction of two 700 MW electrical reactors at Kaiga in Karnataka.

The tendering process began in May 2023, and the technical bids opened in October 2023. Other companies in the bidding process included state-run Bharat Heavy Electricals Ltd (Bhel) and Larsen & Toubro.

Also Read | Mint Explainer: What’s behind the renewed interest in nuclear power?

"MEIL emerged as the lowest bidder, demonstrating its exceptional technical capabilities and cost-efficiency by submitting the lowest bid of 12,799.92 crore," the statement said.

Deal significance

Ch Subbaiah, director, MEIL said, "This contract represents the most significant project for MEIL and our strategic entry into the nuclear energy sector." 

MEIL has its presence in a number of sectors including hydrocarbons, electric buses, defence, telecom, power, transport, manufacturing, general and social infrastructure, irrigation, and drinking water.

It also has a global presence and in September last year it bagged a deal to construct a crude oil refinery plant valued at $648 million from Mongol Refinery State Owned LLC.

MEIL's foray into the nuclear power space comes at a time when the Union government is looking at increasing India's nuclear power capacity in line with the ambitious target to install 500 GW non-fossil fuel capacity by 2030.

On Tuesday, Union minister Jitendra Singh said that India’s nuclear power generation capacity is likely to increase by 70% in the next five years. The installed nuclear power generation capacity will reach 13.08 GW by 2029 from the current 7.48 GW, he said.

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First Published:26 Jun 2024, 08:21 PM IST
HomeCompaniesNewsMEIL bags ₹12,800 cr tender from NPCIL for construction of two electrical reactors

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