Reliance Industries Limited and Bharat Heavy Electricals Limited are in talks to form a JV for setting up solar fabrication units. While RIL is scouting for partners for setting up 2 fabrication units, BHEL is looking for a strategic partner to venture into equipment manufacturing for solar power.
Mr K Ravi Kumar CMD of BHEL said that "We have received a communication from the Prime Minister’s Office in this regard and may go in for a JV with Reliance Industries."
The proposed JV is likely to venture into manufacturing of other small and medium equipment for solar power apart from the solar photo voltaic cells. The JV would also look for small and mid sized acquisitions in the international market for solar power.
The partners in waiting have not finalized the financial and technical details for the proposed JV and would firm up the plans in the next couple of months. The JV company would be eligible for capital subsidies and tax concessions for the solar fab units, a cost of INR 11,631 crore. The solar unit is proposed to be set up at Jamnagar in Gujarat.
Source:
http://steelguru.com/news/index/2008/04/20/NDI1ODE%3D/RIL_may_form_JV_with_BHEL_for_solar_units.html
Saturday, April 19, 2008
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