- March 15, 2023
Eil: EIL eyes N-power, defence to expand portfolio beyond oil – Times of India
NEW DELHI: Engineers India Ltd is looking at nuclear power and defence sectors as the state-run engineering, procurement and construction company seeks to expand its portfolio beyond oil, gas and petrochemicals for the next phase of growth, CMD Vartika Shukla said on Wednesday.
The company has already forayed into fertilisers, petrochemicals and has green hydrogen as well as electrolysers on its diversification menu. It is also adding new geographies in search of new opportunities.
“We are looking at diversification… nuclear energy is one such area that we are actively exploring… EIL did the BoP (balance of plant) for the Kudankulam nuclear power project. We are looking at building on that experience,” she said.
The company is exploring opportunities with SMR (small modular nuclear) reactor technology providers, she said but declined to identify them. The government plans to promote power plants based on SMR technology as part of plan to cut CO2 emission.
Shukla said EIL’s strategy for growth will be to become a total solutions provider, including implementation of mega projects, in the sunshine areas of energy-efficient infrastructure, mining & metallurgy as well as other diversified areas. The company has already diversified into power plants.
She did not see transition to cleaner energy as a threat. “One, we believe oil and gas will be here for a long time. Then, if oil is going down, there will be petrochemicals, fertilisers and so on. Two, there are other areas that we are entering,” Shukla said.
The company has already forayed into fertilisers, petrochemicals and has green hydrogen as well as electrolysers on its diversification menu. It is also adding new geographies in search of new opportunities.
“We are looking at diversification… nuclear energy is one such area that we are actively exploring… EIL did the BoP (balance of plant) for the Kudankulam nuclear power project. We are looking at building on that experience,” she said.
The company is exploring opportunities with SMR (small modular nuclear) reactor technology providers, she said but declined to identify them. The government plans to promote power plants based on SMR technology as part of plan to cut CO2 emission.
Shukla said EIL’s strategy for growth will be to become a total solutions provider, including implementation of mega projects, in the sunshine areas of energy-efficient infrastructure, mining & metallurgy as well as other diversified areas. The company has already diversified into power plants.
She did not see transition to cleaner energy as a threat. “One, we believe oil and gas will be here for a long time. Then, if oil is going down, there will be petrochemicals, fertilisers and so on. Two, there are other areas that we are entering,” Shukla said.
