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Cethar Vessels to set up turbine unit

Special Correspondent

TIRUCHI: Cethar Vessels Private Limited, the second largest boiler manufacturer in Tiruchi, next to the public sector major Bharat Heavy Electricals Limited, will soon set up a turbine manufacturing unit under a joint venture, the company Chairman, K. Subburaj, said here on Friday.

The deal with a foreign partner would be finalised soon and the turbine manufacturing unit would have an annual production capacity of 4,000 MW. The unit would come up at Tiruchi at an investment of over Rs. 800 crore, he said speaking to reporters on the sidelines of Enerdrive 2007, a workshop on energy equipment organised by the Confederation of Indian Industry here.

He, however, declined to identify the foreign partner.

The company would embark on another collaborative venture in July to acquire capability to manufacture sub-critical boilers of 600 MW capacity.

Cethar Vessels targets a turnover of Rs. 2,000 crore during this financial year and has already embarked on a modernisation programme to augment its power equipment manufacturing capacity.

The company planned to set up a 2 X 135 MW utility power plant at Vhile Bhagar in Raigad district, Maharashtra, with an investment of Rs. 1,100 crore.

The power plant is expected to be commissioned by June 2009.

Cethar Vessels would also invest Rs. 300 crore to set up a boiler auxiliaries manufacturing facility in Tiruchi by September 2008.

The company planned to go public with an initial public offer by the end of the current fiscal.

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