Core Energy Systems Secures Rs 200 Crore for Expansion

Core Energy Systems, a leading provider of EPC services, announced a Rs 200 crore investment from strategic investors. The funding will bolster the company's infrastructure, manufacturing capabilities, and support for India's nuclear and defense projects. The move aligns with national goals for increased nuclear power generation capacity.

Core Energy Systems, a prominent player in the engineering, procurement, and construction industry, has successfully raised Rs 200 crore from a group of strategic investors. Announced on Wednesday, this funding will empower the company to enhance its infrastructure and manufacturing capabilities.

The investment is particularly significant as Core Energy Systems is involved in refurbishing India's oldest nuclear facility located at Tarapur. The funds will also support the country's ambitious Small Modular Reactor (SMR) and Bharat Modular Reactor (BMR) programmes, furthering India's nuclear advancement.

The company's managing director, Nagesh Basarkar, highlighted the investment's role in strengthening their commitment to shaping India's civil nuclear future. Exiting investor, IDBI Capital Markets C Securities, praised the company's impact in the nuclear and defense sectors, underscoring the potency of strategic capital.

(With inputs from agencies.)