DEE Development Engineers Plans Nuclear Piping Joint Venture
DEE Development Engineers is in discussions with a partner to establish a joint venture (JV) focused on nuclear-sector piping. The initial capital expenditure for this venture is planned at ₹100 crore, with a formal announcement anticipated by December. This strategic move aims to position the company in a higher-value segment of specialized engineering and manufacturing.
The company is already qualified for nuclear projects in India and is pursuing additional approvals for export opportunities. The partner is expected to assist DEE in meeting pre-qualification requirements for overseas nuclear projects. While the nuclear business is projected to take time to scale, with meaningful revenue expected after approximately three years due to extensive qualification and approval cycles, it aligns with the Indian government's target of achieving 100 GW of nuclear power capacity by 2047.
DEE's near-term growth is expected to be driven by its expanded Indian manufacturing footprint, including the Anjar facility, which has increased its pipe-fabrication capacity to 30,000 MTPA. The company also commissioned a 7,000 MT/year seamless pipe plant as part of its backward integration strategy, aiming to improve product integration and operating margins.