Mitsubishi Heavy Industries (MHI) has signed an agreement with Indian engineering firm Larsen & Toubro (L&T) to establish a joint venture company to manufacture and sell supercritical pressure boilers under license from MHI.
The company will manufacture supercritical pressure boiler technology with generating capacities between 500 – 1,000 MW.
The move, aimed at responding to a rapidly growing electricity demand in India, will see L&T MHI Boilers Private Ltd, established this month and manufacturing in the second half of 2008. Sales targets are set at $435 million after three years and $690 million after five years.
While the site for the venture has not yet been decided, its engineering centre will be in New Delhi.
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