Thermax forms joint venture US co Babcock & Wilcox Power

Power solutions provider Thermax Ltd has entered into an agreement with the US-based Babcock & Wilcox Power Generation Group (B&W PGG) to set up a joint venture company in India for manufacturing supercritical boilers.

Thermax will own 51 per cent stake in the joint venture, whereas the remaining 49 per cent would be held by the US partner. The joint venture will engineer, manufacture and supply supercritical boilers for the Indian power sector.

It will also make sub-critical boilers of over 300 MW in size. The supercritical boilers will be manufactured at a new facility that is being planned. The services of this joint venture would support the Government’s initiatives to improve the power scenario of the country.