Larsen and Toubro to invest 500 million dollars to build nuclear reactors

New Delhi, Sep 30 (ANI): India's top construction and engineering firm Larsen and Toubro (L and T) has said it planned to invest 500 million dollars to build nuclear reactors, hoping to tap Indian orders for power projects.

Talking to reporters here on Tuesday L and T chairman and manging director A.M. Naik said, "We are spending more than 500 million dollars to set up a forging shop meant for nuclear reactors and many other associated equipment for other industries."

India signed a civilian nuclear co-operation agreement with the United States late last year and global nuclear power firms are keen to partner Indian firms expecting large orders from the power deficient nation.

Private firms are currently allowed to participate in the nuclear power sector only as a minority partner with state-run Nuclear Power Corp. (ANI)