Railways sign MoU with BHEL for MEMU coach factory in Rajasthan

Railways today joined hands with state-owned BHEL for setting up a modern Mainline Electric Multiple Unit (MEMU) coach factory in Rajasthan to cater to the growing demand for faster local and suburban trains. The MEMU trains equipped with higher acceleration capacity are expected to move faster on electrified tracks and would benefit daily commuters. "Rajasthan will give us 200 acres of land in Bhilwara for setting up the MEMU coach factory and BHEL will set up the factory which will manufacture 400 coaches in a year," Railway Minister Pawan Kumar Bansal said at the MoU signing ceremony here. While an MoU was signed between railways and BHEL here for setting up a Rs 1,000 cr state-of-the-art MEMU coach factory in Bhilwara, the national transporter will sign another MoU with Rajasthan for the joint venture project. As per the agreement, new MEMU coaches will be designed to have toilets and comfortable seating arrangements. more at: http://www.business-standard.com/article/companies/railways-sign-mou-with-bhel-for-memu-coach-factory-in-rajasthan-113022500485_1.html

Bharat Heavy Plate & Vessels Ltd. (BHPV) Merged With BHEL

The Union Cabinet of India approved merger of Bharat Heavy Plate & Vessels Ltd. (BHPV) Vishakhapatnam with Bharat Heavy Electricals Limited (BHEL) on 21 February 2013. After the merger, BHVP will be a unit of BHEL. Post-merger, BHVP will be able to participate in the tenders as well as obtain the orders. ref: http://www.jagranjosh.com/current-affairs/bharat-heavy-plate-vessels-ltd-bhpv-merged-with-bhel-1361526988-1

With Rs.2,000 cr dues pending, Bhel halts supply to projects

With outstanding payments mounting to more than Rs. 2,000 crore, state-run Bharat Heavy Electricals Ltd (Bhel) has stopped supply of equipment and services to forthcoming projects of companies such as the Abhijeet Group and the Adhunik Group. In addition, India’s largest power generation equipment manufacturer has also been regulating supplies to projects of other companies such as Visa Power Ltd and Indiabulls Power Ltd, said several Bhel executives aware of the development. Abhijeet Infrastructure Ltd, Adhunik Thermal Energy Ltd and Visa Power were named in the Comptroller and Auditor General of India report on allocation of coal blocks last year. The Central Bureau of Investigation has also charged Jas Infrastructure and Power Ltd, a subsidiary of the Abhijeet Group, JLD Yavatmal Energy Ltd and AMR Iron and Steel Pvt. Ltd in cases related to the allocations. “There are around six chronic cases. Of these, the Abhijeet Group is a habitual one. We have stopped all supplies to them,” said a top Bhel executive requesting anonymity. The group is at the centre of the controversy over alleged irregularities in the allotment of coal blocks and owes at least Rs.600 crore to Bhel. ref: http://www.livemint.com/Industry/JBNTV1WMaD4Os2tZHQ4iWP/With-2000-cr-dues-pending-Bhel-halts-supply-to-projects.html

BHEL to set up new manufacturing facility in Maharashtra

Engineering major BHEL plans to set up a new manufacturing facility in Maharashtra for which it would invest Rs 159 crore, a top company official said today. BHEL Tiruchirapalli Complex Executive Director A V Krishnan said BHEL, which has a special focus on power plant equipment, plans a 90,000 tonne capacity production facility of seamless tubes products at Bhandara in Maharashtra. ref: http://www.business-standard.com/article/companies/bhel-to-set-up-new-manufacturing-facility-in-maharashtra-112081700115_1.html

BHEL Bhopal gets e-governance award

Bharat Heavy Electricals Limited (BHEL) has been conferred with the prestigious national e-governance gold award by the Union government for 2012-13 at a function held recently. The award was given in the category - 'innovative use of ICT by PSUs for customer benefits', for the project 'integrated system for online generation of electrical specifications for transformers', developed by informatics centre (IFX), BHEL, Bhopal. Rajasthan chief minister Ashok Gehlot in presence of V Narayanasamy, Union minister of state (MoS) of personnel and public grievances and pensions and MoS at the Prime Minister's office, presented the awards. ref: http://timesofindia.indiatimes.com/city/bhopal/BHEL-Bhopal-gets-e-governance-award/articleshow/18524262.cms

Bharat Heavy Electricals Limited : BHEL pays 106% Interim Dividend for fiscal 2012-13

Bharat Heavy Electricals Limited (BHEL) has paid an interim dividend of 106% on the enhanced equity capital post-bonus, for fiscal 2012-13. In value terms, the total dividend paid amounts to Rs.518.89 Crore. With this, the company has maintained its impeccable track record of earning profits and rewarding investors by paying dividends uninterruptedly for over three decades without a break. A cheque of Rs.351.40 Crore towards the interim dividend for the year 2012-13 on the equity (67.72%) held by the Government of India, was presented here today to Mr. Praful Patel, Hon'ble Union Minister for Heavy Industries and Public Enterprises by Mr. B.P. Rao, Chairman and Managing Director, BHEL, in the presence of Mr. M.F. Farooqui, Secretary, Department of Heavy Industry. Directors on the board of BHELas well as other senior officials of the Ministry of Heavy Industries & Public Enterprises and BHELwere also present on this occasion. ref: http://www.4-traders.com/BHARAT-HEAVY-ELECTRICALS-9743934/news/Bharat-Heavy-Electricals-Limited-BHEL-pays-106-Interim-Dividend-for-fiscal-2012-13-16052968/

BHEL completes product in record time

Just a few days following the receipt of Maharatna status by BHEL, the conglomerate recorded another feat to its credit. AC Power Control Room is a standard product of BHEL Bhopal which it has been supplying to national fuel explorer companies namely ONGC and Oil India Ltd. The product which is required to drive oil rigs in oil exploration requires intensive engineering and intricate manufacturing operations. With such operations involved, the product so far could be completed in about 2-3 months. However, this time owing to sincere efforts of the team, the manufacturing could be accomplished within a record time of 21 Days. In the handing over ceremony, DK Thakur, General Manager, SCR, congratulated and appreciated the team. Santosh Kumar AGM (Production), MS Kinra (AGM, Commercial), RK Shingwekar (AGM, MM), MK Shrivastava (AGM, CEE), Dipak Sarma (AGM, OFE) were other senior officials under whose able guidance, this record breaking feat could be established. Sr DGM (Production) SCR, Rupesh Telang appreciated the excellent team effort by Production, Engineering, MM, Commercial and Quality Control. ref: http://www.dailypioneer.com/state-editions/bhopal/126319-bhel-completes-product-in-record-time.html

BHEL bags Rs 2,854-cr Bihar project

Bharat Heavy Electricals Ltd (BHEL) on Tuesday said it has bagged a Rs 2,854-crore contract for supply of the steam generator package for three coal-fired thermal units of 660 MW each with supercritical parameters. The order has been placed by Nabinagar Power Generation Company Ltd, a joint venture of NTPC Ltd and the Bihar State Electricity Board. The joint venture is setting up the 1,980 MW Nabinagar Supercritical Thermal Power Project (STPP) in Bihar. ref: http://www.thehindubusinessline.com/companies/bhel-bags-rs-2854cr-bihar-project/article4381824.ece

BHEL sales decline for first time in a decade; down 4%

For the first time in a decade, India’s biggest power utility manufacturer has reported bleak results prompting analysts to put a sell recommendation to their clients. However, the management remains cautiously upbeat Bharat Heavy Electricals (BHEL) has been in a bad shape for the past two-three years. However, when it announced its third quarter results for the period ended December 2012, many pundits and market watchers were in for a rude shock. BHEL had reported its first quarterly revenue decline, the first time in a decade. Net sales, for the quarter ended December 2012 declined 4% year-on-year (y-o-y) to Rs10,219.71 crore, when compared to the same period last year. Operating profit plummeted 20% y-o-y to Rs1,634.06 crore, for the reporting quarter. And the same story followed for its net profit which crashed 17% to Rs1,185.85 crore. This is a worrying trend for one of India’s largest power utilities manufacturer. Several analysts are bearish and have already advised clients to sell the scrip. ref: http://www.moneylife.in/article/bhel-sales-decline-for-first-time-in-a-decade-down-4/31114.html

Government grants Maharatna status to two PSUs BHEL and GAIL

The government today granted Maharatna status to BHELBSE -1.03 % and GAIL, a development which will provide them greater financial and functional autonomy and also ensure better valuation for shares of the two PSUs. "The competent authority has approved the grant of Maharatna status for BHEL and GAILBSE 0.06 % which will give these public sector units greater financial autonomy," Secretary in the Department of Public Enterprises (DPE) O P Rawat told PTI. A Maharatna firm can take investment decision of up to Rs 5,000 crore without going to the government. For Navratna firms, this limit is Rs 1,000 crore. However, both these PSUs do not have the requisite number of non-official directors on its board and are therefore not eligible to exercise the Maharatna powers till the time required number of officials are appointed on their boards. ref: http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/government-grants-maharatna-status-to-two-psus-bhel-and-gail/articleshow/18292476.cms