Dubai/Russia equipment deal
Partnership will see nuclear power equipment produced in India
The Dubai-based Dodsal group has signed a $150 million deal with a Russian nuclear engineering specialist to manufacture nuclear power equipment in India.
Dodsal and Atomenergomash (AEM) signed a memorandum of understanding to establish a business relationship and pursue joint commercial activities in India, starting with cooperation in the fields of manufacture and supply of power equipment for nuclear and thermal power projects.
In a statement by Dodsal, the agreement will see a manufacturing unit established in India, with an initial investment of about $150m.
The agreement, which followed extensive high level meetings between Dodsal and AEM senior management, will see a manufacturing unit being established in India with an initial investment of about $150m, Dodsal said in a statement, with commercial operations due to start in the first quarter of 2013.