Russian-UAE partnership eyes Indian market

14 April 2011

Russia's AtomEnergoMash (AEM) and UAE-based Dodsal Group could begin jointly producing nuclear power plant equipment in India following the signing of a memorandum of understanding (MoU).

 

The MoU - signed in Dubai following a two-day meeting between the companies – provides for cooperation in the production and supply of power equipment for nuclear power plants, thermal power plants and for the oil and gas industry. It also calls for cooperation in technology transfer and consultancy services. Discussions between the two companies began in May 2010.

 

AEM - the engineering division of the Russian state nuclear energy company Rosatom - and Dubai-based diversified multinational group of companies Dodsal Group have agreed to set up a manufacturing unit in India with an initial investment of some $150 million. They have targeted the start-up of commercial production at the unit by the first quarter of 2013.

 

Rajen Kilachand, chairman and CEO of Dodsal, commented: "The memorandum of understanding with AtomEnergoMash is another step for Dodsal Group in expanding its activities in the power sector." He added, "The collaboration between AtomEnergoMash and Dodsal Group will help India implement its ambitious, particularly in the area of projects in the nuclear industry."

 

Vladimir Kashchenko, director general of AEM, said, "Localisation projects to produce power plant equipment in the most promising regions of the world is part of our strategy to transform AtomEnergoMash into a global energy machine building company."

 

The MoU with AEM follows the acquisition last month by Dodsal of the former Austrian engineering company AE&E IDEA based in Chennai, India, which it said will be merged into the wider engineering, procurement and construction (EPC) business of the Dodsal Group.

 

Researched and written

by World Nuclear News