NTPC-BHEL JV to invest Rs.6000 crore in power equipment plant

NTPC-BHEL Power Projects Pvt Ltd. (NBPPL), an equal joint venture (JV) between India's top power producer NTPC Ltd and Bharat Heavy Electricals Ltd (BHEL), said it plans to invest Rs.6000 crore ($1.5 billion) in greenfield projects to set up a power equipment plant that would manufacture boilers and turbines.



Corporate homepages of NTPC Ltd and Bharat Heavy Electricals Ltd (BHEL) are seen in a composite image. NTPC-BHEL Power Projects Pvt Ltd. (NBPPL), an equal joint venture (JV) between India's top power producer NTPC Ltd and Bharat Heavy Electricals Ltd...Article Tags
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More News Related to turbines >>The plant is expected to begin operations by 2013 and would produce the equipments for power plants with an annual capacity of 5000 megawatts (MW) of greenfield thermal capacity.

The location of the plant has not yet been decided.

According to Jairam Ramesh, Minister of State for Power and Commerce, the JV enterprise would undertake three broad categories of businesses in three phases.

In the first phase, the enterprise would compete for securing engineering procurement and construction contracts for power projects in India and overseas. This would be followed by the manufacture of critical balance-of-plant equipment for power units and, in the final phase, it would set up a power equipment manufacturing plant.

The funds for the project would be raised from a mix of debt and equity in 70:30 ratio, Ramesh said.

The Noida-based JV enterprise was set up jointly by NTPC and BHEL in December with an initial capital infusion of Rs.5 crore and is likely to get its first CEO by the end of this month.

The enterprise is likely to put up manufacturing bases across three possible sites: Visakhapatnam for boilers, Pune for turbines and a possible site in West Bengal for balance-of-plant equipment

source:
http://in.ibtimes.com/articles/20080713/ntpc-bhel-power-equipment-turbines-boilers.htm