Just a day after Prime Minister Manmohan Singh mustered the numbers in Parliament to push through the civil nuclear deal with the US, the focus has now shifted to one of the top corporate beneficiaries, L&T, which is giving final touches to its very own nuclear strategy.
L&T's big boss AM Naik is stepping on the gas to sign up a Rs 2000 crore joint venture with Nuclear Power Corporation and big money is being pumped in to build forging facilities to tap the nuclear power sector.
On Dalal Street, it’s the nuclear deal that powered construction, capital goods and power stocks. After all, a host of Indian companies have been eyeing this big opportunity for long to build on their businesses.
Tata Power has teamed up with nuclear equipment supplier Areva to tap the nuclear power segment. While capital goods manufacturers, BHEL, L&T, Crompton Greaves, ABB and Alstom Projects are eyeing big business opportunities in nuclear energy, Gammon, HCC and Shapoorji Pallonji, besides L&T, are the construction firms with experience in building nuclear power projects.
India Inc. has been betting on this deal. After all, apart from ensuring India's energy security, the nuke deal means big business for them.
For L&T, however, the stakes are possibly even bigger. L&T, which is currently working on the 2000 MW Kudankulam nuclear power project, hopes that the nuclear deal with the US will not only double its revenues from nuclear power segment, but will also open up huge business opportunities in the days ahead.