Nuclear Newcomer: Megha Engineering secures massive ₹12,800-cr NPCIL order | Company Business News-OxBig News Network

New Delhi: Megha Engineering & Infrastructures Ltd (MEIL) has received the formal purchase order or the letter of approval for a ₹12,800 crore engineering, procurement and construction (EPC) contract from the Nuclear Power Corporation of India Ltd (NPCIL) to construct two 700 megawatt electric (MWe) nuclear reactors—Kaiga units 5 and 6—in Karnataka.

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With this, MEIL marks its entry into the nuclear energy space, the Hyderabad-based company said in a statement, adding that this is the largest-ever order placed by NPCIL. It has received the purchase order nearly a year after it bagged the contract in June 2024.

“For the first time, NPCIL used the Quality-cum-Cost-Based Selection (QCBS) method for awarding this project—striking a careful balance between quality and cost. Competing with industry giants like BHEL and L&T, MEIL was chosen for its strong technical approach and competitive pricing,” it said.

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MEIL already has a diversified presence across sectors including power, water, hydrocarbons, irrigation, oil rigs, defence, transport, compressed gas distribution and electric mobility.

It also has a global presence and in September 2023 it bagged a deal to construct a crude oil refinery plant valued at $648 million from Mongol Refinery State Owned LLC.

MEIL’s foray into the nuclear power space comes at a time when the Union government is looking at increasing India’s nuclear power capacity in line with the ambitious target to install 500GW of non-fossil fuel capacity by 2030.

Currently, India has an installed nuclear power capacity of 8.18GW and the government aims to triple the capacity by 2032. According to the data provided by the Union power ministry in Parliament in March, about 14.3GW of nuclear energy capacity is in different stages of implementation. About 7.3GW of nuclear power capacity is already under construction. Amid the limited availability of large land parcels, the Centre is now also focusing on developing small modular reactors in the country.