New Delhi: State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) on Wednesday said it has bagged a Rs1,034 crore gas turbine-based captive power plant order from Hindustan Petroleum Corp. Ltd.

In a regulatory filing, BHEL said it has “won a prestigious contract for setting up a gas turbine based captive power plant on lumpsum turnkey (LSTK basis) under International Competitive Bidding (ICB)".

“Valued at 1,034 crore, the order has been placed on BHEL by Hindustan Petroleum Corporation (HPCL) for its Visakh Refinery expansion project at Visakhapatnam, Andhra Pradesh," it added.

BHEL said this captive power plant is being set up to meet the power and steam required by HPCL for its planned refinery expansion from 8.33 to 15 MMTPA. Shares of BHEL were trading 1.29% lower at Rs91.95 apiece on BSE.