PL Engineering and Nuvia to form JV for nuclear sector

MUMBAI - PL Engineering, a Punj Lloyd Group company, Wednesday entered into an agreement with the Indian unit of French nuclear engineering company Nuvia to form a joint venture to deliver nuclear energy-related services in the country.

The company said it had taken a strategic decision to enter the nuclear supply chain segment following acceleration in the nuclear industry.

“The skill-set and experience in working in highly regulated market sectors such as oil and gas are readily transferable to the emerging nuclear sector,” it said.

PL Engineering did not divulge any financial details of the JV, in which both the companies will hold equal stakes.

“We intend to play our part in India’s nuclear expansion programme and are delighted to have entered into a partnership with Punj Lloyd Group to leverage the existing opportunities,” said Jerome Stubler, chairman, Nuvia, part of the French construction and concession company Vinci SA.