Business has been slow at a Larsen & Toubro Ltd. factory in India that makes parts for nuclear power plants. The Mumbai-based construction company opened the plant in 2012, hoping to profit from government plans to build more reactors in a country where more than 200 million people lack access to electricity. But most of the projects have gone nowhere, and L&T’s facility in Hazira is running at one-fifth of capacity. “That’s not the best use of resources,” says Senior Vice President Y.S.Trivedi.
L&T’s factory could soon be humming. On June 1, Prime Minister Narendra Modi and Russian President Vladimir Putin agreed that the two countries would work together to expand India’s largest nuclear power station. Read More…
Credit By: The Economic Times
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