Megha Engineering & Infrastructures Ltd (MEIL) announced on Wednesday that it has won a Rs 12,800 crore contract from the Nuclear Power Corporation of India. MEIL was the lowest bidder, beating Bharat Heavy Electricals Ltd and Larsen & Toubro Ltd with a bid of Rs 12,799.92 crore.
The project involves building two 700 MW nuclear reactors at Kaiga in Karnataka. This is the largest tender ever by the Nuclear Power Corporation. MEIL, a $5 billion company, works in many areas like hydrocarbons, electric buses, defense, power, transport, and manufacturing.
“This is our biggest project and our entry into nuclear energy,” said Ch Subbaiah, director of MEIL. The company says this project is important for India’s clean and reliable nuclear energy goals. The tender process started in May 2023, and the technical bids were opened in October 2023. The selection was based on both quality and cost, ensuring a detailed review of all proposals.
Reuters reported in February that India plans to invest $26 billion in its nuclear energy sector to boost electricity generation from sources that do not emit carbon dioxide. NPCIL, which owns and runs India’s nuclear power plants, received bids for its latest project from Larsen and Toubro and state-owned Bharat Heavy Electricals, according to MEIL.
