October 12, 2008

BHEL NTPC JV to incorporated in next week – Report

Bharat Heavy Electricals Limited has announced that its JV National Thermal Power Corporation Limited would be incorporated next week.

Mr K Ravi Kumar CMD of BHEL said that new JV called NTPC BHEL Power Projects Private Limited would be incorporated within a week and that the proposed venture would complement its business.

He added that "NTPC will not push for another BHEL. We have been saying that 60% of the market is with us and 40% is going to others. There is no difficulty in establishing another unit for catering to that 40%. It is any how going to the Chinese, Koreans and Japanese."

Mr Kumar stressed that recreating BHEL would be very difficult and as such, it is investing up to INR 10,000 crore for expansion and acquisition to raise its capacity to produce power equipment from 10,000 MW to 15,000 MW annually by the end of the 11th Plan period.

Meanwhile, Mr T Sankaralingam CMD of NTPC said that "The way India is growing, we would want many more BHEL."