BHEL plans to invest Rs 1,000 crore for modernisation

Engineering major BHEL plans to undertake capital expenditure of Rs 1,000 crore this year for internal modernisation and expansion of different sectors under its ambit, the company CMD B Prasada Rao said. Besides this, Rs 400 crore has been set aside for a JV investment for setting up a steel plant, of which 30-40 per cent offtake will be for the company's own consumption, he told reporters here last night. He said BHEL has been comfortably securing orders both in India as well as overseas. With Government of India's target of installing eight lakh MW by 2032, which is four times the current capacity and with most of this is likely to be in PSUs, BHEL was confident of sustained growth in the coming years, he said. With many projects in the pipeline, BHEL was optimistic of adding 7,000-8,000 MW order before end of this fiscal. In the first quarter of the year, BHEL secured order for providing equipments for generation of 3,000 MW. "The remaining three quarters also seem positive," he said. more: http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/engineering/bhel-plans-to-invest-rs-1000-crore-for-modernisation/articleshow/15447374.cms