Holtec International to invest Rs 4,800 crore in Maharashtra

The state government of Maharashtra has inked a memorandum of understanding (MoU) with the Holtec International to develop a heavy fabrication facility to manufacture a high-end nuclear power plant equipment.

The company is a specialist in nuclear fuel storage systems and heat transfer equipment and Maharashtra will be the first state in the country to have a nuclear equipment manufacturing facility.

The government, under the pact, expected an investment of $680 million (Approximately Rs 4,800 crore) in a heavy fabrication facility in India to be dedicated towards manufacturing of high-end nuclear power plant equipment.
This plant is expected to be on similar lines of capacity and capability of their plant in the United States of America. The objective of this MoU is to enhance the capacity of the facility to manufacture equipment that requires heavy fabrication for industries such as power and process, petrochemical, aerospace and similar such industries that require heavy manufactured weldments.

In turn, the state government will provide a single window clearance mechanism for setting up this plant and will support the investment as per the state government’s various policies and regulations besides providing various approvals and facilities needed for setting up the plant in Maharashtra.

Image Credit : philadelphia.cbslocal.com

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