New Delhi: State-owned BHEL on Monday said it has secured a $436 million (approximately Rs2,000 crore) contract for setting up a gas-based power project in Yemen.
“BHEL has received an order for a Gas Turbine-based power plant from Yemen. The $436-million contract is for the Marib Gas-Based Power Project (Phase II),” a company statement said.
The project is financed by the Arab Fund for Economic and Social Development, the Saudi Fund for Development and the Government of Yemen.
Yemen plans to add another 3,000 MW of installed capacity in the next 4-5 years, which will present an opportunity to BHEL to further expand its operations in this country.
So far, projects totalling to over 12,500 MW have been contracted from overseas market by BHEL.
BHEL is presently executing 45 contracts in 23 countries, which include major turnkey projects in Bangladesh, Bhutan, Libya, Syria and Sudan.
Meanwhile, the PSU recently signed an agreement with Spain’s Abengoa to set up solar power projects in India.
The agreement will enable both the organisations to leverage their capabilities in offering EPC solutions for solar power projects in India, as well as give them the opportunity to explore cooperation on energy projects in other parts of the world.