Online edition of India's National Newspaper
Sunday, Dec 23, 2007
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Online edition of India's National Newspaper Sunday, Dec 23, 2007 ePaper |
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Setting up new fabrication plant Govt. may waive loans to BHPV NEW DELHI: Power equipment major Bharat Heavy Electricals Ltd. (BHEL) said it will be investing Rs. 220 crore to upgrade its production capabilities at its Hardwar plant in Uttarakhand. It will also take over Bharat Heavy Plate and Vessels Ltd (BHPV) and invest Rs. 275 crore in its capacity expansion. “We will be upgrading the production capacity at our blade shop in Hardwar to 2.25 lakh blades by 2009. We have already invested Rs. 180 crore on the blade shop, set up in 2003 to produce 40,000 blades. With this, BHEL will become fully capable of manufacturing advanced design blades used in thermal plants of up to 1,000 MW capacity for better efficiency and lower heat rate for thermal sets,” the company said in a statement. BHEL has embarked on an expansion plan to augment its manufacturing capacity to 15,000 MW annually by 2009. The capacity augmentation at the Hardwar blade shop is a part of the overall plan. The company is also setting up a new fabrication plant and a central stamping unit at Jagdishpur in Uttar Pradesh at an investment of Rs. 306 crore. Meanwhile, BHEL announced that it would take over Bharat Heavy Plate and Vessels (BHPV) and will initially invest Rs. 275 crore as capital expenditure and Rs. 34 crore as equity. The government had already given an in-principle nod for the takeover. The Department of Heavy Industry had proposed that the government might waive or write off loans and interests to BHPV amounting to Rs. 414.95 crore to settle all its liabilities amounting to Rs. 263.97 crore, an official release said.
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