McNally Bharat Engineering Company is eyeing a foray into nuclear Engineer Procure Construct contracts with Areva which has an understanding with Nuclear Power Corporation of India Limited for setting up nuclear reactors.

Mr Srinivash Singh MD of McNally Bharat said that “We already have a relationship with Areva in some projects and may look at the nuclear power eventually.”

Meanwhile McNally Bharat has completed the process of acquisition of the coal and mineral technology division of KHD Humboldt Wedag, Germany through its subsidiary company, MBE Holdings Pte Limited, Singapore.

The new acquisition has brought to the fold four subsidiary companies, MBE Coal & Mineral Technology GmbH, Cologne, MBE Minerals SA Limited, South Africa, McNally Humboldt Wedag India and MBE Cologne Engineering GmbH.

Mr Singh said that the company was in the process of appointing consultants for capital restructuring. At least three consultants KPMG, Accenture and Ernst & Young for the restructuring while PricewaterhouseCoopers was already advising McNally Bharat on organization restructuring.

He added that as part of its growth plans, the company has expanded its production base in all its four existing manufacturing units at Kumardhubi, Asansol, Bangalore and Baroda. The Baroda unit has recently acquired 40 acres in order to double the existing capacity of the unit and also set up a centre of excellence and manufacturing facilities for oil and gas and nuclear power equipment.

(Sourced from Business Standard)