'Govt taking steps to protect BHEL from Chinese competition'

The government today said it is taking steps to protect the interest of power equipment maker Bharat Heavy Electricals Ltd in the wake of competition from Chinese players. A slew of factors including aggressive competition, weak investment sentiment, inflationary pressure and political turmoil in overseas countries like Syria have impacted the performance of state-run BHEL, Parliament was informed. In response to a query on whether the government is taking any steps to protect the interest and efficacy of BHEL from Chinese competition, Heavy Industries and Public Enterprises Minister Praful Patel replied in the affirmative. However, he did not provide details about steps initiated in this regard. Patel said that a number of Chinese companies such as Dongfang, Harbin Power and Shanghai Electric are competing with BHEL. "Out of 54,964 MW power generating capacity added during the 11th Five-Year Plan, equipment from Chinese suppliers/manufacturers accounted for nearly 18,500 MW (i.E. 34%," he said in a written reply in the Lok Sabha. more at: http://www.business-standard.com/article/companies/govt-taking-steps-to-protect-bhel-from-chinese-competition-113050200790_1.html