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Home arrow News arrow Power and Energy arrow Dodsal Group and Atomenergomash plan $150 mn manufacturing plant in India
Dodsal Group and Atomenergomash plan $150 mn manufacturing plant in India Print E-mail
Written by Anand   
Thursday, 14 April 2011
New Delhi: Dodsal, a Dubai based multinational group of companies and Atomenergomash (AEM), a Russian heavy equipment engineering company that specializes in the fields of Nuclear and Conventional energy, plan to set up a manufacturing unit in India with an initial investment in the range of US$ 150 million to manufacture nuclear power equipment.

Dodsal Group and AEM have agreed to co-operate in the fields of manufacture and supply of power equipment for Nuclear Power Projects (NPP), Thermal Power Projects (TPP) and Oil & Gas industry. Both companies have signed a Memorandum of Understanding to establish a business relationship and pursue joint commercial activities in India.

The two sides have agreed to follow a strict time line for the implementation of the contents of the MoU and have targeted start-up of commercial production by 1st quarter 2013.

The joint activities take into account the bilateral agreements and international obligations of the Russian Federation and the Republic of India.

The two companies have agreed to pursue opportunities for joint manufacture of power equipment and components for power projects, and to co-operate for the transfer of technology and rendering of consultancy services to pursue their common objectives.

Rajen A. Kilachand, Chairman and President of Dodsal Group, thanked Vladimir Kashchenko, Chief Executive Officer of AEM for the speedy finalization of the MoU.

The MOU with AEM follows the acquisition by Dodsal Group of the former Austrian engineering company AE&E IDEA based in Chennai, which will be merged into the wider EPC business of the Dodsal Group.

The Dodsal Group is a Dubai-based diversified multinational organization which operates in the areas of Engineering, Procurement and Construction; Exploration of Hydrocarbons and Mining of Minerals and Metals for the energy sector; Trading activities and the Hospitality business, including Quick Service and Casual Dining restaurants globally.

With a business volume of over USD 2 billion for the EPC business, Dodsal Group is one of the leading energy and infrastructure development companies in the world, and has successfully implemented projects in over 22 countries in the Middle East, Europe, Africa, the Indian Subcontinent and South-East Asia.

The MOU with AEM of Russia is part of Dodsal Group's diversification plan to expand Dodsal's activities from its current EPC, Mining, Oil & Gas exploration activities to include manufacturing and supply of equipment for Nuclear and Thermal power plants. Mr Kilachand had stated his vision to "have the Group build on its existing strengths in the EPC sector and develop into a group which becomes a manufacturer of high technology products for nuclear, space and defence," in 2006 at the Arab Strategy Forum, and has strategically moulded his multi-billion dollar group to fulfil his dream.

Atomenergomash Group of Companies (AEM) is the engineering division of the State Atomic Energy Corporation "Rosatom" - one of the leading power engineering companies in Russia.

AEM is provides effective, integrated solutions that include design, manufacture, supply, installation, engineering and service equipment for nuclear and thermal power plants, as well as for the enterprises of gas and petrochemical industries.

AEM aims to form a globally competitive power engineering company with a diversified business portfolio. The company brings together more than 40 Russian and foreign companies, including manufacturing plants, engineering centres and research organizations.

Over 47 countries around the world have adopted nuclear power as a viable clean energy alternative that can help the world's economies break free from their crippling dependence on fossil fuels.

Last Updated ( Thursday, 14 April 2011 )
 
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