Eil: EIL is targeting N-power, defense to expand portfolio beyond oil

NEW DELHI: Engineers India Ltd is eyeing the nuclear power and defense sectors as the state-owned engineering, procurement and construction company looks 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 ventured into fertilizers, petrochemicals and its diversification menu includes green hydrogen and electrolysis. It is also adding new geographies to pursue new opportunities.
“We are looking at diversification… nuclear power is one such area we are actively exploring… EIL created a BoP (balance of plant) for Kudankulam nuclear power project. We are relying on this experience,” he said.
The company is exploring the possibilities SMR (small modular nuclear) reactor technology suppliers, he said, but declined to identify them. The government plans to promote power plants based on SMR technology as part of its plan to reduce CO2 emissions.
Shukla said EIL’s growth strategy will be to become a complete solutions provider, including implementation of mega projects in energy efficient infrastructure, mining and metallurgy and other diversified sectors. The company has already diversified into power plants.
He did not see the transition to clean energy as a threat. “First, we believe that oil and gas will be here for a long time. Then, if oil is falling, petrochemicals, fertilizers, etc. Second, there are other areas that we are entering into.” Shukla said.

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