Babcock & Wilcox unit forms joint venture in India
Babcock & Wilcox Power Generation Group Inc. in Barberton said it has formed a joint venture with Indian energy-environment products company Thermax Ltd. to build highly efficient boilers and pulverizers for the Indian utility boiler market. The new company will have its headquarters in Pune in the Maharashtra state of India. Under the agreement, Babcock & Wilcox Power Generation also will license its technology to the joint venture company for subcritical boilers 300 megawatts and larger, supercritical boilers and coal pulverizers. The joint venture will have the full capability to engineer, manufacture and manage large power projects for the Indian power sector, the company said. As part of the agreement, the partners will construct a pressure parts fabrication plant in India.
“This agreement augments our presence and profile in the global marketplace and presents a substantial opportunity to continue the growth of our business in India and around the world,” said Richard L. Killion, president and chief operating officer of Babcock & Wilcox Power Generation. He said the company and Thermax “have successfully worked together on other joint ventures and licensing agreements for more than two decades.”
Babcock & Wilcox Power Generation will own 49% of the joint venture, while Thermax will have 51% ownership.
The companies said the joint venture comes “at a critical time when India's ambitious growth plans, coupled with the country's dependence on coal-fired power plants, present a tremendous opportunity to participate in a robust power market.”
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