HCC-Max Group JV Bags Rs 737 Cr Russian Nuclear Power Contract | CORPORATE ETHOS

HCC-Max Group JV Bags Rs 737 Cr Russian Nuclear Power Contract

By: | June 6, 2018
HCC

Jun 6: lnfrastructure major Hindustan Construction Company Ltd (HCC), in the joint venture with Bangladesh-based leading construction company MAX Group, has been awarded $ 110 million (Rs 737 crore) contract by Russia’s State Nuclear Company, JSC Atomstroyexport, for civil works of Turbine Island for Unit 1 of Rooppur Nuclear Power Plant.

HCC’s share in the JV is 40% (US$44 million 1 Rs.295 crore).

“The Rooppur Nuclear Power Plant 190 km northwest of Dhaka will be built with Russian technology and is equipped with two WER Reactors of 1200 MW each. These reactors are similar to the Kudankulam Nuclear Power Plant in Tamil Nadu,” HCC said.

Commenting on the new order win, Arjun Dhawan, Director and Group CEO, HCC ,said, “HCC has become the first lndian company to participate in the international civil nuclear market. We are confident of delivering this job on time with precision in quality, safety, and state-of-the-art technology. We look forward to further project awards in Rooppur NPP and expanding our infrastructure footprint in Bangladesh.”

Recently, lndia signed an agreement with Bangladesh for civil nuclear cooperation, under which lndia has extended expertise and project support for Bangladesh’s first nuclear power plant. lndia not being a member of Nuclear Suppliers Group (NSG) cannot participate directly in the construction of atomic power reactors. But lndian companies can be involved in construction and installation works and in the supply of equipment of non-critical category.

HCC shares were trading at Rs 14.57, up 3.41% from the previous closing of Rs 14.09, on BSE at 2.20 pm today.