Rolls-Royce and L&T to Team Up on Global Nuclear Prospects

Larsen & Toubro Limited (L&T) and Rolls-Royce have signed a Memorandum of Understanding (MoU) for cooperation to effectively address the projected need for light water reactors (LWR) in India and internationally. LWR technology is in use in over sixty per cent of civil nuclear power plants operating worldwide.

The two companies have agreed to collaborate on areas including nuclear instrumentation and controls, engineered products and systems, reactor components, engineering services, in-service reactor support and waste management.
The cooperation with L&T for instrumentation and controls will form the first operational phase of this relationship to bridge the gap in the existing supply chain in support of India’s ambitious new build program.
Rolls-Royce president — nuclear, Lawrie Haynes said: “India has developed an impressive nuclear capability over the last 34 years which rivals that of any country. India is a key strategic market for Rolls-Royce and I am very pleased that we are working with Larsen & Toubro, one of the country’s most pre-eminent engineering companies. Our skills and capabilities are complementary and I am confident that we can forge a strong and mutually beneficial relationship.”

L&T’s senior executive vice-president and board member, M.V. Kotwal said: “The agreement brings together rich experience and will effectively leverage the strengths of both the companies to tap rapidly emerging opportunities in India, UK and rest of world. We welcome this opportunity to work together with Rolls-Royce, a highly-reputed, technology-driven company.”
The agreement between Rolls-Royce and L&T follows the recent bilateral Civil Nuclear Cooperation Declaration by the Indian and UK Governments, which enables UK and Indian industries to engage in civil nuclear commerce.

Punj Lloyd to transfer its stake in Pipavav Shipyard

Punj Lloyd Limited, the global engineering, procurement and construction conglomerate recently announced that it has entered into a Share Purchase Agreement with Mumbai-based SKIL Infrastructure Limited and SKIL Shipyard Holdings Private Limited pursuant to which, Punj Lloyd Limited has agreed to sell its entire shareholding in Pipavav Shipyard Ltd, aggregating to 129,360,538 Equity Shares in two tranches constituting 19.43 per cent of the issued and paid up capital of the Company to SKIL Infrastructure Limited and SKIL Shipyard Holding Private Limited at a total cost of Rs 656 crores.

Speaking on the development, Punj Lloyd’s director-corporate affairs, Luv Chhabra said, “We at Punj Lloyd are focusing on our existing businesses and continuously evaluating our portfolio in line with our shareholder interests and value. This decision is in line with our overall growth strategy.”

Punj Lloyd Limited and SKIL Infrastructure Limited are the Promoters of Pipavav Shipyard Ltd and SKIL Shipyard Holdings Private Limited, a wholly owned subsidiary of SKIL Infrastructure Limited, is part of the Promoter Group of the Company.

Rolls-Royce and HAL Announce New JV

Rolls-Royce and Hindustan Aeronautics Limited (HAL) recently signed an agreement to create a manufacturing joint venture company in Bangalore, India. The new company — a 50:50 joint venture between Rolls-Royce and HAL, will undertake the manufacture of compressor shroud rings.

Construction of a new purpose-built production facility, incorporating the latest in modern manufacturing techniques, will commence in 2010 with component production beginning in 2012.
Rolls-Royce CEO, Sir John Rose said: “India is extremely important to Rolls-Royce and we are delighted to announce this new joint venture company with our partners HAL. This marks an exciting new phase of our long-standing partnership with HAL and underscores our commitment to India and the aerospace industry here. India is a country that is full of potential for Rolls-Royce and we look forward to continuing to develop our business here in the future.”

HAL chairman Ashok Nayak said: “Rolls-Royce and HAL have been strategic partners since 1956, when HAL started producing the Orpheus engine, under licence. Since then the partnership has flourished on key programmes like the Hawk Advanced Jet Trainer’s Adour Mk871 engine, following on from the production of Adour Mk811 engines for the Jaguar.”

He added, “As a result of our work together we have contributed to the development of the aerospace industry in India. This new manufacturing venture will further our common objectives, advancing high value-added manufacturing in India.”
Rolls-Royce is committed to developing new, advanced manufacturing technologies and skills in India and, through this venture, will also be creating highly skilled new jobs in the Indian aerospace industry.