"Megha Engineering Secures $1.53 Billion Nuclear Power Generation Deal"

Megha Engineering & Infrastructures Ltd (MEIL), a leading Indian multi-sector infrastructure firm, has secured a landmark contract worth 128 billion rupees ($1.53 billion) from the Nuclear Power Corporation of India Ltd (NPCIL). The contract, announced on Wednesday, entails the construction of two 700 megawatts (MW) electrical reactors at Kaiga in Karnataka, marking the highest-valued tender ever issued by NPCIL, as stated by MEIL.

According to Reuters, India is poised to attract $26 billion in investments into its nuclear energy sector, aimed at boosting electricity generation from low-carbon emission sources.

NPCIL, responsible for India's existing fleet of nuclear power plants, received competitive bids for the tender, including submissions from infrastructure giant Larsen and Toubro and state-owned Bharat Heavy Electricals, MEIL confirmed.

"This contract represents a significant milestone for MEIL and signifies our strategic foray into the nuclear energy domain," commented Ch Subbaiah, Director at MEIL.

The project at Kaiga underscores MEIL's growing role in India's infrastructure landscape, particularly in the critical sector of sustainable energy generation.

BS