Mitsubishi Heavy Industries (MHI) and Larsen & Toubro (L&T) of India are to jointly establish a company to manufacture and sell steam turbines and generators - equipment used in coal-fired power generation plants.
The joint venture, L&T-MHI Turbine Generators, will be established in December, with manufacturing slated to commence in May 2009.
The new company will manufacture, sell and provide after-sale service for steam turbines and generators for the Indian market. MHI will license its design and manufacturing technologies for supercritical pressure steam turbines with generating capacities of 500-1,000MW, and for 150 and 300MW steam turbines used in gas and steam turbine combined-cycle power generation systems.
Of the $75m joint venture, MHI will own 39 percent while L&T will own 51 percent. Mitsubishi Electric will also make a 10 percent investment.
The joint venture has been formed as a result of L&T's goals to enter the large-scale thermal power generation system business in a move to expand its business.
In April 2007, MHI and L&T established a joint venture in India called L&T MHI Boilers to build and sell supercritical pressure boilers for coal-fired power generation plants; manufacturing is slated to commence next year.
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