Bharat Heavy Electricals Ltd (Bhel), India’s largest manufacturer of power generation equipment, fears that political unrest in West Asia and North Africa will hurt overseas orders at a time when its share of the domestic market is also shrinking.
“The orders are slowing down,” said a senior Bhel executive, asking not to be identified. “There will be some impact as they (West Asian and North African nations) are not making fresh investments. However, going forward, whenever there is peace, they will push forward their economic agenda.”
Pro-democracy protests have spread from Tunisia to Egypt, Libya, Algeria, Syria, Jordan, Yemen, Oman and Bahrain since December, throwing business in turmoil. Limited protests have also taken place in Saudi Arabia. All these countries are ruled by monarchies or military dictatorships. West Asia, Africa and Central Asia are Bhel’s main international markets.
more at:
http://www.livemint.com/2011/08/08212024/Political-turmoil-in-Africa-W.html?atype=tp
Monday, August 8, 2011
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