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.
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