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BHEL bags $32 million UAE contract

BHEL bags $32 million UAE contract
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First Published: Tue, Aug 26 2008. 02 45 PM IST
Updated: Tue, Aug 26 2008. 02 45 PM IST
Mumbai: Indian state-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) has won a contract for two gas turbines generating units worth Rs1.4 billion ($32 million) from the United Arab Emirates (UAE).
“The order, from International Energy Resources, is for two units of 42 MW each,” BHEL said in a statement.
“Middle East is one of BHEL’s key export regions, besides being one of the fastest growing markets for power generating equipment globally,” it said.
“The company has set up 14 power projects so far in the Middle East region, apart from supplying equipment for the Power and Oil and Gas sectors in the region,” it said. Shares in BHEL were up 0.8% at Rs1,702 in a weaker Mumbai market.
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First Published: Tue, Aug 26 2008. 02 45 PM IST
More Topics: UAE | BHEL | Power | Oil | Gas |