India BGR Energy eyes j/v with Japan firm -sources
MUMBAI, July 11 (Reuters) - India's BGR Energy Systems Ltd (BGRE.BO) is in talks with a Japanese company on a joint venture to make steam turbines, three company sources said on Saturday.
BGR, which sells boilers and other equipment, is considering the deal to complete its power generation products offering, the sources, who declined to be named, said.
"We are in talking in terms of joint venture (with a Japanese firm). The terms, the scope of work, the manufacturing facilities ... are yet to be decided," one of the sources said without naming the Japanese company.
It would be premature to say anything now, Sreenivas Behra, the company's head of corporate communications said when asked about the plans.
The company had recently entered into a technology collaboration with U.S.-based Foster Wheeler (FWLT.O) to make boilers in India. [ID:nBOM474860].
India, which suffers from a peak hour electricity deficit of nearly 12 percent, plans to add 78,500 megawatts in the five year period to the end of 2011, improving the prospects of power equipment makers such as BGR, state-run Bharat Heavy Electricals (BHEL.BO) and Larsen & Toubro (LART.BO). (Reporting by Ketan Bondre; Editing by Anthony Barker)
