Press Trust of India, March 10, 2010 (Mumbai) Thermax on Wednesday said it floated a joint venture company with the US-based Babcock and Wilcox Power Generation Group to manufacture super-critical boilers in the country.
"The total investment in the joint venture is estimated at Rs 700 crore," Thermax managing director chief executive officer MS Unnikrishnan told reporters here."Thermax will own 51 per cent stake in the JV, while the remaining 49 per cent will be held by the US partner," Unnikrishnan said, adding funding will be managed through internal accruals. Apart from supercritical boilers, the joint venture will also manufacture sub critical boilers over 300mw, said Unnikrishnan.
Full Story: Thermax inks JV with US firm Babcock & Wilcox - NDTV.com
"The total investment in the joint venture is estimated at Rs 700 crore," Thermax managing director chief executive officer MS Unnikrishnan told reporters here."Thermax will own 51 per cent stake in the JV, while the remaining 49 per cent will be held by the US partner," Unnikrishnan said, adding funding will be managed through internal accruals. Apart from supercritical boilers, the joint venture will also manufacture sub critical boilers over 300mw, said Unnikrishnan.
Full Story: Thermax inks JV with US firm Babcock & Wilcox - NDTV.com
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