ET reported that the delay in policies for nuclear power projects has forced the 2,000 crore joint venture between L&T and Nuclear Power Corporation of India to revise its business plan which was focused only on catering to the nuclear power sector.

Mr AM Naik CMD of L&T said that "Initially there will be a huge challenge to fill up the forging shop. But we could make hydrocarbon forging there. We are now examining how we can do steel plant and power plant forgings from the unit.”

L&T holds 74% in the JV which was formed in 2009. The JV is setting up a unit at Hazira in Gujarat with an annual capacity of 100,000 tonne steel and 40,000 tonne forgings.

The government is interested in allowing private sector participation in the nuclear power sector but detailed policies, including a change in legislation, have not been done. New nuclear plants are also facing a public backlash after the March earthquake and tsunami in Japan flattened an entire city causing extensive damage.

(Sourced from ET)