McNally Bharat eyes nuclear deal with Areva
24 Nov 2009
McNally Bharat Engineering Co is looking to enter the nuclear power field through engineer-procure-construct (EPC) contracts with global engineering majors. It is particularly eyeing a deal with Areva SA, the French engineering and nuclear equipment company which has an understanding with the Nuclear Power Corp of India Ltd, for setting up nuclear reactors.
Srinivash Singh, managing director of McNally Bharat – part of the B M Khaitan group – said, ''We already have a relationship with Areva in some projects, and may look at the nuclear power eventually.''
Meanwhile McNally Bharat has completed the process of acquisition of the coal and mineral technology division of KHD Humboldt Wedag, Germany through its subsidiary MBE Holdings Pte Ltd, Singapore, told newspersons in Kolkata on Monday.
The new acquisition has brought to the fold four subsidiary companies, MBE Coal & Mineral Technology GmbH, Cologne, MBE Minerals SA (Pty) Ltd, South Africa, McNally Humboldt Wedag India and MBE Cologne Engineering GmbH.
Singh said the company was in the process of appointing consultants for capital restructuring. At least three consultants - KPMG, Accenture and Ernst & Young – will be appointed for the restructuring, while PricewaterhouseCoopers is already advising McNally Bharat on organisation restructuring.
McNally Bharat Engineering is aiming for a sales turnover of Rs5,000-Rs7,000 crore by the year 2015, Singh said.
