Bharat Heavy Electricals Ltd (Bhel), is in talks with Egypt’s Orascom Construction Industries (OCI) for setting up a joint venture to manufacture machinery and gain an advantage in winning overseas contracts.
Egypt’s electricity demand is set to grow as part of plans to set up an additional capacity of 10,000MW. Bhel is seeking a joint venture as Egyptian tenders require a domestic manufacturing base and an equipment manufacturing tie-up will also help it control costs while bidding for such projects. A manufacturing location in the country will help it service markets in Africa, West Asia and even Europe.
“We are looking at setting up a manufacturing facility for transformers and power plant parts with Orascom Construction Industries,” said a senior Bhel executive, who did not want to be identified. “We are doing our homework and have already submitted a preliminary joint venture paper with the Egyptian Electricity Authority. We are trying to ascertain the demand potential there.”
more at:
http://www.livemint.com/2010/01/26211903/Bhel-in-talks-with-Orascom-for.html
Tuesday, January 26, 2010
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