Sitting on a huge cash surplus of over Rs 9,000 crore, state-owned power equipment maker BHEL is keen to invest in a joint venture by picking up equity in state power projects, a move that would generate revenues and also additional business for the PSU.
"...We are putting this money in joint ventures offering state generation companies equity in their power plants. It is a better way to invest money and generate business for the company," BHEL CMD BP Rao said in New Delhi on Sunday.
The company has already entered into four such joint ventures with states of Maharashtra, Madhya Pradesh, Karnataka and Tamil Nadu, he said, adding that BHEL would be investing about Rs 3,000 crore in these JVs over a period of four years depending upon the schedule of projects.
These power plants could be coal-based or gas-based and as they get the linkage to the raw material the projects would take off.
By doing so, BHEL would pick up to 25 per cent equity and this would ensure business for equipments. The state generation firms would contribute the remaining 75 per cent equity.
more at:
http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/bhel-looks-to-invest-rs-9000-crore-surplus-in-state-power-projects/articleshow/8824133.cms
Sunday, June 12, 2011
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