Friday, March 24, 2023

Eil: EIL eyes N-Power, defense to expand portfolio beyond oil – Usky News

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NEW DELHI: Engineers India Ltd is looking at nuclear power and defense sectors as the state-run engineering, procurement and construction company seeks to expand its portfolio beyond oil, gas and petrochemicals for the next phase of growth, CMD Vartika Shukla said on Wednesday.
The company has already forayed into fertilizers, petrochemicals and has green hydrogen as well as electrolyzers in its diversification menu. It is also adding new geographies in search of new opportunities.
“We are looking at diversification… nuclear power is one area we are actively exploring… EIL BoP (Balance of Plant) done for kudankulam Nuclear power project. We’re building on that experience,” he said.
Company looking for opportunities smr (Small Modular Nuclear) reactor technology providers, she said but declined to identify them. The government is planning to promote power plants based on SMR technology as part of a plan to cut CO2 emissions.
Shukla said EIL’s strategy for growth would be to become a total solution provider including implementation of mega projects in energy efficient infrastructure, mining and metallurgy as well as other diverse sectors. The company has already diversified into power plants.
He did not see the transition to clean energy as a threat. “One, we believe oil and gas will be here for a long time. Then, if oil is going down, so will petrochemicals, fertilizers, etc. Two, there are other sectors we are entering. Shukla Said.


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