The Hindu : Business : BHEL, KEL ink MoU for setting up JV

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BHEL, KEL ink MoU for setting up JV

Special Correspondent

The products will cater to transportation, industries and renewable energy sectors

— PHOTO: Rajeev Bhatt

SYNERGISING EXPERTISE: Union Minister for Heavy Industry and Public Enterprises Santosh Mohan Dev, flanked by Kerala Minister for Industries and Commerce Elamaram Kareem (left), and Union Minister of State for Commerce and Power Jairam Ramesh at a function in New Delhi on Tuesday.

NEW DELHI: Bharat Heavy Electricals Ltd. (BHEL) and Kerala Electrical and Allied Engineering Company Ltd. (KEL) on Tuesday signed a memorandum of understanding (MoU) for setting up a joint venture to manufacture a specific range of products at KEL, Kasaragod, to cater to core sectors such as transportation, industries and renewable energy.

The MoU was signed by BHEL Chairman and Managing Director K. Ravi Kumar and KEL Managing Director B. Jyothi Kumar in the presence of Union Minister for Heavy Industries Santosh Mohan Dev, Minister of State for Power and Commerce Jairam Ramesh, and Kerala’s Minister for Industries and Commerce Elamaram Kareem. Principal Secretary to the Prime Minister T. K. A. Nair was also present on the occasion.

Speaking on the occasion, Mr. Jairam Ramesh urged the Prime Minister’s Office to work on giving more powers and functional autonomy to select Navratna PSUs to allow them to meet the requirements of the globally competitive environment. “We have to work on this situation as certain issues require immediate response and global players hardly wait for approvals by PSUs that take long time. We need to unshackle the PSUs such as BHEL to enable to compete globally and also enter into technological alliances,” he added.

Earlier, Mr. Ravi Kumar said the company was gearing up to meet the emerging demand in the transportation segment, which was expected to grow exponentially due to the Railways plans for capacity enhancements in rolling stocks and rail network.

He said the product mix of the new joint venture would include products such as induction motors (up to 300 kW) and wind electric generators (600 kW).

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