South Korean company Doosan Heavy Industries and Construction Co Ltd is planning to set up a power equipment manufacturing facility in India. Its Chairman Y.H.Park will be in India end June.
Doosan might not enter into any joint venture with any Indian company for setting up the manufacturing facility. They might set up a fully-owned subsidiary in India. A 100 per cent foreign direct investment in the Indian power sector.
India has an installed capacity of 153000 MW and plans to add another 62000 MW during the current Five Year Plan. However, power projects in India are facing undue delays following lack of domestic manufacturing capability. This has led to large power equipment imports from countries such as China.
With Government mulling a safeguard duty on imported equipment, more and more foreign power equipment companies are planning to set up manufacturing facilities in India. Some of them have gone in for tie-ups with Indian companies. For instance, Mitsubishi of Japan has tied up with L&T, Toshiba with JSW, Italy's Ansaldo with GB Engineering, and Alstom with Bharat Forge.
Doosan Heavy recently won a mega project to construct the Raipur-Chhattisgarh coal-fired thermal power plant worth $1.1 billion from the GMR Group. The Raipur-Chhattisgarh plant with power generation capacity of 1,370MW (685MW X 2 units) is slated for completion in the second half of 2013. For this project, it will will supply the main assembly in entirety, including turbine generators.
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