New Delhi: In one of the most aggressive recruitment plan in the public sector, state-run power equipment maker BHEL will hire 25,000 people over the next five years to take its total headcount to 55,000, a top company executive said today.
“We have already hired 15,000 people in the past four years and we aim to recruit 5,000 people every year for the next five years,” CMD BHEL B P Rao said in an interview.
The 5,000 new recruitments would comprise 1,000 engineers, 1,000 diploma holder and 2,000 ITI (Industrial Training Institute) graduates among others, he said.
BHEL which is engaged in building power plant equipments is in process to ramp up the manufacturing capacity to 20,000 MW by March, 2012 from the current 15,000 MW and therefore requires manpower to achieve the target.
Asked about the attrition rate in the PSU, Rao said BHEL has been least affected by the trend as not many people have exited the PSU for private companies. “..infact people who had left BHEL some years ago, they have come back to us.”
The equipment maker currently has manpower of 46,000 and it plans to take it to about 55,000 in the next five years as 2,500 people are expected to retire from the company annually during the period.
With its order book at worth ocer Rs1.64 lakh crore, the cash-rich company is bullish on its business plans and is mulling to participate in the state power projects by way of picking equity. This will give company new revenue generation stream as well as new orders for equipments.
Besides, the company is also looking at opportunities in the overseas market and has earmarked Rs9,000 crore for this and for equity participation in the state power projects.
It has appointed a team of consultants from Kotak Mahindra, Merrill Lynch, Ernst & Young, which would evaluate the opportunities available for the company abroad.
BHEL holds stake in various thermal power projects of the state generation utilities in the country including those from Karnataka, Maharashtra and Madhya Pradesh.
Meanwhile, the company is also seeking advice from research firm Crisil for setting up a non-banking finance company (NBFC) mainly with a purpose of funding power projects.
Crisil had prepared a report on the blueprint of the NBFC and has submitted to the Company’s Board.
“The Board of Directors have met, they have asked for some changes and the proposal (NBFC) would again go to the Board in the next two months,” Rao added.