BHEL to pick up 25pc stake in K'taka power project

BHEL and Karnataka State Electricity Board are likely to soon announce a Rs 9,000 crore joint venture project to set up a 1,600-mw power plant in the state.

"We may announce the joint venture within a month," a senior BHEL official told PTI today.

The JV company would execute the 2x800-mw coal-fired project in the state and BHEL would be the equipment supplier.

The public sector equipment major would hold a minority stake of 25 per cent stake in the joint venture while the rest would be with the Karnataka SEB.

BHEL is joining the JV company with an intention of securing the equipment order estimated to be Rs 6,000 crore, he said, adding the JV agreement would have a clause giving an exit option to BHEL once the project gets commissioned.

ref :
http://www.ptinews.com/news/604193_BHEL-to-pick-up-25pc-stake-in-K-taka-power-project