Indian engineering company Larsen & Toubro (L&T) and the Nuclear Power Corporation of India Limited (NPCIL) are likely to establish a $750 million joint venture to manufacture forgings for nuclear power plants. NPCIL has received an in-principal approval from Prime Minister Manmohan Singh to develop an integrated melting and forging facility in partnership with L&T. Global companies such as Areva, General Electric and Toshiba’s Westinghouse Electric Corporation have begun talks with L&T for possible joint ventures to manufacture nuclear-power equipment.
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