Thermax Inks 15yr Agreement With US Firm

Mumbai: Pune-based power equipment maker Thermax has forayed into a technical collaboration with Babcock & Wilcox Power Generation Group (B&W PGG), to enter into manufacturing and supply of utility boilers of up to 800 mw used to power thermal plants. The deal gives Thermax the right to design, manufacture and sell subcritical B&W Radiant utility boilers in India. The 15-year pact with B&W PGG will help Thermax to join other companies such as BHEL and the L&T-Mitsubishi combine and about five Chinese power equipment manufacturers operating in India. Thermax, which earned a revenues of Rs 2,800 crore in the first nine months of financial year 2007-08, hopes to generate Rs 1,500 crore annually from the business, tapping 10 per cent of an estimated 100,000 mw of installed capacity to come up in India in the next five years.