Nuclear Newcomer: Megha Engineering secures massive ₹12,800-cr NPCIL order
New Delhi: Megha Engineering & Infrastructures Ltd (MEIL) has received the formal purchase order or the letter of approval for a ₹ 12,800 crore engineering, procurement and construction (EPC) contract from the Nuclear Power Corporation of India Ltd (NPCIL) to construct two 700 megawatt electric (MWe) nuclear reactors—Kaiga units 5 and 6—in Karnataka.
With this, MEIL marks its entry into the nuclear energy space, the Hyderabad-based company said in a statement, adding that this is the largest-ever order placed by NPCIL. It has received the purchase order nearly a year after it bagged the contract in June 2024.
"For the first time, NPCIL used the Quality-cum-Cost-Based Selection (QCBS) method for awarding this project—striking a careful balance between quality and cost. Competing with industry giants like BHEL and L&T, MEIL was chosen for its strong technical approach and competitive pricing," it said.
MEIL already has a diversified presence across sectors including power, water, hydrocarbons, irrigation, oil rigs, defence, transport, compressed gas distribution and electric mobility.
It also has a global presence and in September 2023 it bagged a deal to construct a crude oil refinery plant valued at $648 million from Mongol Refinery State Owned LLC.
MEIL's foray into the nuclear power space comes at a time when the Union government is looking at increasing India's nuclear power capacity in line with the ambitious target to install 500GW of non-fossil fuel capacity by 2030.
Currently, India has an installed nuclear power capacity of 8.18GW and the government aims to triple the capacity by 2032. According to the data provided by the Union power ministry in Parliament in March, about 14.3GW of nuclear energy capacity is in different stages of implementation. About 7.3GW of nuclear power capacity is already under construction. Amid the limited availability of large land parcels, the Centre is now also focusing on developing small modular reactors in the country.
First Published: 23 Apr 2025, 10:48 PM IST
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
an hour ago
- The Hindu
ASBL to launch 50-storey residential project in Hyderabad's financial district
Hyderabad-based real estate developer ASBL is set to launch its latest residential project, Broadway, on June 14 in the Financial District. The project has received approval from the Real Estate Regulatory Authority (RERA), said a release. Spread across five acres, Broadway will feature three high-rise towers with G+50 floors, comprising a total of 885 three-bedroom apartments. The flats will range from 2,035 to 2,650 square feet, and the project is scheduled for completion and handover by December 2029. Ajitesh Korupolu, founder and CEO of ASBL, said: 'Since 2015, Mercer has ranked Hyderabad as India's most liveable city six times, highlighting its tranquillity, cosmopolitan appeal and safety. With Broadway, we aim to contribute to this standard by building a community that exemplifies comfort, connectivity, and modern urban living,'
India Gazette
an hour ago
- India Gazette
India-EU FTA will be a great enabler, says Goyal; pitches for stronger economic ties with Sweden
Stockholm [Sweden], June 11 (ANI): The proposed India-European Union Free Trade Agreement (FTA) will be a great enabler, Union Commerce and Industry Minister Piyush Goyal has said, adding that India will be able to offer greater opportunities for Sweden. Attending India-Sweden Business Delegation meetings in Stockholm, Union Minister Goyal said, India and Sweden complement each other. 'The India-EU Free Trade Agreement is clearly going to be a great enabler... We do hope to be able to offer you a better pathway and greater opportunities in the future... I can assure you that we are making good progress and are deeply committed to strengthening this partnership, working together.' The Minister also highlighted India's growth prospects. 'Today, amongst all the investment opportunities available anywhere in the world, I dare say the market of 1.4 billion aspirational Indians can beat any other opportunity. When 1.4 billion Indians take one step forward, our country takes 1.4 billion steps forward. That is the spirit in which the Indian growth story is powering on,' said Goyal. Inviting the business community to invest in India, Goyal further added, 'We would like to invite all the distinguished business leaders of Sweden to come to India to experience our country. I am sure this tested partnership can really grow beyond the frontiers of what we have achieved so far.' With over 280 Swedish companies in India and 80+ Indian companies in Sweden, the potential for collaboration is immense. H said the proposed India-EU FTA has huge potential. 'There's huge potential awaiting all of us. We complement each other. Sweden and India, working as friends, as trusted partners, can transform the Indian economy; the Indian growth story can support the Swedish plans for the future.' Goyal said India is not only the largest and fastest-growing economy but it will continue to grow for the next 20-30 years. He highlighted that India has one of the lowest inflation rates and strong forex reserves. Citing the favourable business ecosystem, he appealed to the investor community to make investments in India. Goyal reached Sweden after finishing his two-day official visit to Switzerland. Apart from other engagements, he will engage with the Indian diaspora and address media interactions, further strengthening the people-to-people connections and communicating the vision for the India-Sweden partnership. (ANI)
India Gazette
an hour ago
- India Gazette
Gujarat CM Bhupendra Patel to attend 'Khedut Sammelan' as part of 150th birth anniversary celebrations of Sardar Vallabhbhai Patel tomorrow
Gandhinagar (Gujarat) [India], June 11 (ANI): Gujarat Chief Minister Bhupendra Patel will preside over the Khedut Sammelan to be held on Thursday in Bardoli -- the 'Karma Bhumi' of Sardar Saheb -- as part of the 150th birth anniversary celebrations of Sardar Vallabhbhai Patel. Inspired by Prime Minister Narendra Modi, the 150th birth anniversary of Sardar Saheb is being celebrated across the country with various programs embodying the vision of 'Ek Bharat, Shreshtha Bharat', according to a release from the CMO. Under the leadership of the Prime Minister, the Viksit Krishi Sankalp Abhiyan, held across various states from May 29 to June 12, is paving the way for making farmers and the agriculture sector truly Atmanirbhar. The Viksit Krishi Sankalp Abhiyan was launched by Union Agriculture Minister Shivraj Singh Chouhan on 29th May from Odisha. The campaign will now conclude in the presence of the Union Agriculture Minister on Thursday, 12th June, at Bardoli -- the 'Karma Bhumi' of Sardar Saheb -- along with the Khedut Sammelan, the release added. Fulfilling the vision of Prime Minister Narendra Modi for AtmaNirbhar Krishi and AtmaNirbhar Kisan, the Viksit Krishi Sankalp Abhiyan has aimed to bring agricultural technology to villages and create awareness among farmers about the proper use of micro-nutrients and other technologies. Under this campaign, more than 4 lakh farmers across 2,250 rural clusters in 31 districts of Gujarat have been covered. On this occasion, Chief Minister Bhupendra Patel and Union Agriculture Minister Shivraj Singh Chouhan will e-inaugurate the Centre of Excellence for Horticultural Crops in Porbandar district, the Centre of Excellence for Banana and Vegetables in Petlad taluka, and the Primary Processing Centre which has become operational in Kutch, for the benefit of farmers in the state. Additionally, the e-inauguration of 14 godowns with a total storage capacity of 25,000 metric tonnes and the e-Foundation Stone Laying of the Centre of Excellence for Sugarcane in Bardoli will also be held during the Khedut Sammelan. The Khedut Sammelan, organised by the State Government's Department of Agriculture, Farmers' Welfare and Cooperation, will take place on Thursday, 12th June, at 10:00 AM at the Sankari BAPS Mandir Complex in Bardoli. Agriculture Minister Shri Raghavji Bhai Patel will also grace the event, the release added. (ANI)
