Anushakti Vidhyut Nigam Ltd (ASHVINI) is set to issue a ₹28,000 crore EPC tender for four 700 MW reactors at the Mahi Banswara atomic power project in Rajasthan. This project is a key step in India’s target to scale nuclear capacity to 22 GW by 2032. The massive contract covers full engineering, construction, and supply, aimed at boosting local manufacturing for indigenous reactor technology.
Anushakti Vidhyut Nigam Ltd (ASHVINI), a joint venture between state-owned giants Nuclear Power Corporation of India Ltd (NPCIL) and NTPC Ltd, is preparing to launch one of the largest infrastructure tenders in India’s nuclear sector. The company plans to seek bids worth over ₹28,000 crore for an engineering, procurement, and construction (EPC) contract. This package covers the development of a nuclear island for four 700 MW units at the Mahi Banswara atomic power project in Rajasthan.
Scope of the Nuclear Island Package
The tender is comprehensive, requiring the winning bidder to handle engineering, manufacturing, supply, civil construction, installation, and testing for the nuclear island systems. These components are vital for the operation of India’s indigenous pressurised heavy water reactors (PHWR). By bundling four reactors into a single massive EPC package, the company aims to achieve economies of scale, which could lower construction costs and streamline the supply chain for specialized nuclear components.
Strategic Energy Goals and Industry Impact
This project is a cornerstone of India’s broader energy strategy, which seeks to ramp up reliable, low-carbon electricity production. Currently, India’s operational nuclear capacity is approximately 8.8 GW. The government has set a target to increase this to 22 GW by 2032, as part of a longer-term roadmap to reach 100 GW of nuclear power by 2047. The Mahi Banswara project alone will contribute 2,800 MW to this total.
For the domestic engineering and manufacturing sector, this order is expected to be a significant volume driver. Because the project relies on indigenous PHWR technology, it provides a stable pipeline for local manufacturers who produce high-precision nuclear equipment. This effort is designed to reduce dependence on foreign technology and strengthen India's local industrial base in the energy sector.
Investor Context and Execution Monitorables
For investors, the primary monitorables center on project execution and the financial health of the involved entities. Large-scale nuclear projects are capital-intensive and typically have long gestation periods, meaning cash flow impact will be felt over several years rather than immediately. Because this is the first time NPCIL and NTPC are using a joint venture model for nuclear development, the operational efficiency of this partnership will be a key indicator for future nuclear projects in India.
While this tender represents a major step toward growth, investors should watch for potential risks related to the project timeline. Large-scale nuclear construction is often subject to strict regulatory oversight, environmental clearances, and technical complexities, which can lead to delays or cost overruns. The ability of the selected contractors to meet these stringent requirements while adhering to the estimated budget will determine the long-term success of the investment. Market participants will likely track the bidding process, the final selection of the EPC partners, and the actual start date of site activities as the next major updates.