Patel asks BHEL to diversify business activities

Heavy Industries Minister Praful Patel today asked Bharat Heavy Electricals to explore business opportunities in mass rapid transport systems and other areas. State-run Bharat Heavy Electricals Ltd (BHEL), a major player in the power equipment segment. During a meeting here today to review the company's performance, Patel said that BHEL has to gear up for the future to face competition from the domestic and overseas companies. According to a press release, BHEL has been asked to step up its activities in areas like renewables, transportation and defence, in a big way. Assuring complete support and backing of the Ministry, he said that BHEL would soon be conferred the 'Maharatna' status. The Heavy Industries & Public Enterprises Minister held a meeting with BHEL Chairman and Managing Director B P Rao and other senior company executives. Patel asked the company to explore the possibilities of entering into joint ventures with technology leaders. "He (Patel) has also decided to take up the issue of the defence production capabilities of BHEL with the Ministry of Defence," the release said. ref: http://business-standard.com/india/news/patel-asks-bhel-to-diversify-business-activities/193105/on