BHEL on Wednesday singed an MoU to form a 50:50 joint venture company with its Japanese counterpart Toshiba for manufacturing equipment for power transmission and distribution in India and abroad.
"It would be 50:50 joint venture," BHEL CMD BP Rao told reporters in NEw Delhi. He added that all the formalities regarding the joint venture would be completed by June this year.
"We may set up new (manufacturing) plant for this joint venture," Rao added.
BHEL and Toshiba today signed a memorandum of understanding to form a joint venture company to address transmission and distribution business in India and other mutually agreed countries, a company statement said.
The proposed joint venture company plans to undertake business of equipment and project including transformers, reactors and switchgears in addition to other products and systems.
The joint venture shall receive technology for the equipment and systems from Toshiba.
ref:
http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/engineering/BHEL-Toshiba-ink-MoU-to-form-joint-venture-company/articleshow/5585070.cms
Wednesday, February 17, 2010
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