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Home arrow Alliances and Joint Ventures arrow Doosan Heavy Industries to acquire AE&E's boiler manufacturing unit in Chennai
Doosan Heavy Industries to acquire AE&E's boiler manufacturing unit in Chennai Print E-mail
Written by Krishna Kumar   
Wednesday, 02 February 2011
Chennai: Doosan Heavy Industries & Construction Co., the South Korean engineering major, has inked a pact with creditors of Austria's AE&E group to acquire it's boiler manufacturing unit based in Chennai for a consideration of EUR20.5 million.

The unit manufactures boilers for coal-fired power plants. AE&E had recently secured an order for the supply of six 150 MW CFBC-type boilers, from the Essar group for it's Salaya III project.

Austrian Energy & Environment (AE&E) had taken over the plant from Deutsche Babcock.

With this acquisition Doosan will strengthen its presence in the Indian power generation market. Last year Doosan secured an order for building the Raipur-Chhattisgarh thermal power plant, from GMR Energy.

 
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