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Bhel to form JV for nuclear forgings with European firm

Bhel to form JV for nuclear forgings with European firm
PTI
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First Published: Thu, Jan 08 2009. 02 57 PM IST
Updated: Thu, Jan 08 2009. 02 57 PM IST
New Delhi: State-run Bharat Heavy Electricals Ltd today said it is planning to form a joint venture for manufacturing nuclear forgings in the calendar year.
Bhel is in talks with a European firm on this but refused to name the company and also the financial details. The joint venture is expected to be on technology transfer and Bhel would buy technology from the foreign firm.
“We are looking at a joint venture with a European company for manufacturing nuclear forgings during this calendar year,” Bhel CMD K Ravi Kumar told reporters here.
The company is expected to grow at around 30%in the next three years, with the current orderbook being Rs45,000 crore.
“We want a growth rate of nearly 30%for the next three years,” Kumar said, adding that the company plans to manufacture equipment to generate about 20,000 MW of power by 2011.
Bhel is investing Rs10,000 crore in the current 11th Plan on organic expansion, of which Rs2,000 crore has been spent.
On reports that Bhel is planning to set up a manufacturing facility in China, Kumar responded, “We are not setting up any facility in China but we would source raw material from there.”
The company has received board’s approval for investing Rs4,800 crore in its expansion in the financial year 2009-10.
Bhel, recently, bagged a Rs2,100-crore order from NTPC for setting up two 500 MW units of steam generator and steam turbine generator packages at the latter’s Mauda Super Thermal Power Project in Nagpur.
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First Published: Thu, Jan 08 2009. 02 57 PM IST