BHEL, 5 PSUs to set up 4,000 MW solar plant in Rajasthan

In a first of its kind venture, six public sector undertakings (PSUs) including state-run Bharat Heavy Electricals Limited (BHEL) and Power Grid Corporation of India Limited (PGCIL) on Wednesday announced joining hands to set up world’s largest 4,000 MW ultra mega solar power project in Rajasthan. "The MoU signed today will be put up for Cabinet approval and then things will move forward at a fast pace. The land is already there and the basic infrastructure like roads is also available at the site. We hope to get cracking on the project after the approval," Minister of Heavy Industries and Public Enterprises Praful Patel said at the pact signing ceremony in New Delhi. Also present on the occasion was the New and Renewable Energy Minister, Farooq Abdullah who termed it as a giant step towards unleashing a revolution for achieving bigger goals in solar energy. According to BEHL chairman and managing director, B.P. Rao, in the first phase of the project, 1000 MW would be made operational. The project will be the largest single location solar plant spread across 19,000 acres at Sambhar in Rajasthan. It entails an investment of Rs. 7,500 crore in the first phase. A special purpose vehicles (SPV) in shape of a joint venture company would be set up for the project. more at: http://www.thehindu.com/business/Industry/bhel-5-psus-to-set-up-4000-mw-solar-plant-in-rajasthan/article5630430.ece

No recruitment until growth is back: BHEL

With orders for power equipment drying up in the wake of the current economic slowdown, state-run capital goods company Bharat Heavy Electricals Ltd (BHEL) has suspended its plan for fresh recruitments. “We have suspended recruitments because of the market situation,” BHEL Chairman B Prasada Rao told Business Line. The company recruited about 20,000 people in the last four-five years across all categories, including specialists and entry-level employees. As on March 31, 2013, the company had over 48,000 employees. Asked about the plan for manpower recruitment during the current and next fiscals, Rao said it will be bare ‘minimum’ and that, too, only to fill in the vacancies. rfd: http://www.thehindubusinessline.com/companies/no-recruitment-until-growth-is-back-bhel/article5627644.ece

Solar Plant in BHEL to be Commissioned in 2 Months

The 5 MW solar power plant being set up at the Boiler Auxiliary Plant (BAP), attached to the BHEL, at Ranipet, would be commissioned in the next two months, executive director of the plant Veeraraghavan said. He said this while addressing a gathering on Republic Day on Sunday. Veeraraghavan said that the BHEL at Ranipet had commissioned the first ammonia gas conditioning System at TISCO, Jojobera, in collaboration with Heavy Water Board (HWB), Mumbai. In association with the Bhabha Atomic Research Centre (BARC), the BAP developed a brand new technology for simultaneous extraction of polluting sulphur oxide and nitrous oxide from boiler flue gas. This technology was unveiled by the President of India on 15 November, 2013, he added. The official noted that five Quality Circles of BHEL Ranipet had won gold medals in quality conventions held in Madurai, Chennai and Kolkata between September 2013 and December 2013. Further, he said, 365 employees of the plant had registered as eye donors in an eye donation camp held by the BAP. The BAP had also bagged an order for supply of a 4000- cubic metre Water Treatment Plant from OPAL, Dahej. This was the largest capacity pre-treatment system order that BHEL Ranipet had bagged so far, he said. more at: http://www.newindianexpress.com/states/tamil_nadu/Solar-Plant-in-BHEL-to-be-Commissioned-in-2-Months/2014/01/28/article2023965.ece

Apr-Dec order flows at BHEL hit just a fifth of FY14 target

Bharat Heavy Electricals (BHEL) continues to be bogged down by the dismal flow of new orders and the resultant drop in the orders at hand, a preview of its yet-to-be-released December quarter figures by FE show. The company is facing the grim prospect of not meeting even its internally downwardly revised turnover target of Rs 43,000 crore for 2013-14. Persisting with the trend since 2011-12, the capital goods manufacturer booked fresh orders worth just R7,197 crore in October-December 2013, or 47% of the quarter's R13,696-crore target. This means that including R4,470 crore of orders received in the first half, BHEL could manage to get fresh orders of just R11,667 crore in April-December. That was just 21% of the target of Rs 54,714 crore for all of 2013-14. BHEL’s new orders stood at Rs 60,507 crore in 2010-11. more at: http://www.financialexpress.com/news/aprdec-order-flows-at-bhel-hit-just-a-fifth-of-fy14-target/1219503

Govt may sell 5% in Bhel to other PSUs to raise Rs 2,100 cr

The government plans to sell 5% stake in electrical equipment major BHEL next month through a block deal to state-owned financial institutions and PSUs to raise close to Rs 2,100 crore. The move follows a decision by an empowered group of ministers last week, clearing sale of 10% stake in Indian Oil Corporation through a block deal to Oil India and ONGC, with an aim of garnering close to R5,000 crore. With these block deals, which would strengthen the practice of cross-holdings amongst the largest PSUs, and R20,000 crore that Coal India is set to hand out to it by way of a special dividend and dividend distribution tax, the government intends to reduce the shortfall in its receipts and fulfill the promise of reducing fiscal deficit to 4.8% of the GDP. “The disinvestment programme for BHEL is on and the stake sale may happen in the first half of February, so that the process is completed before the election code of conduct comes into play. more at: http://www.financialexpress.com/news/govt-may-sell-5-in-bhel-to-other-psus-to-raise-rs-2100-cr/1219133

BHEL completes transmission link six months ahead of schedule

In a major milestone that will give a big boost to the Southern Grid and availability of power in the Southern region, state-run Bharat Heavy Electricals Limited (BHEL) on Monday announced that it had successfully synchronised and commissioning the 765/400kV substation at Raichur in Karnataka, a part of the transmission link of Power Grid Corporation of India Limited (PGCIL) built Southern end of the 765 kV Raichur-Sholapur link. With the commissioning of the 765kV Raichur-Sholapur transmission link, the Southern Grid has been now harmonised with the North-East-West Grid thus fulfilling the ambition of one nation one grid one frequency. BHEL constructed project includes design, engineering, manufacturing, supply, erection, testing and commissioning of the 765/400 kV sub-station package at Raichur. The completion of the project will now allow import of electricity from other regions to the Southern region during peak demand as well as export of surplus power from the Southern region during off-peak demand. ``BHEL is proud to have been associated with the execution of this historic transmission link. BHEL has always been committed to the nation’s power transmission programme and this achievement reaffirms its commitment to the growth of the transmission sector,’’ a BHEL spokesperson said in a statement in New Delhi. ref: http://www.thehindu.com/news/national/bhel-completes-power-transmission-substation-at-raichur/article5544757.ece

Banks, cash-rich PSUs keen to buy Govt stake in BHEL

Public sector banks and cash-rich Government-owned companies are keen to pick up a stake in Bharat Heavy Electricals Ltd (BHEL). This will help the Government in its disinvestment programme. The Finance Ministry has written to the Heavy Industries Ministry seeking its views on selling BHEL’s shares to other Central Public Sector Enterprises (CPSEs). The Government aims to sell 5 per cent of the shares of the power generation equipment maker. “After the Finance Ministry’s letter last week, BHEL has been asked to consult with market intermediaries. Accordingly, we will revert to the Finance Ministry about the plan for selling stakes to different entities,” a senior Heavy Industries Ministry official told Business Line. The ‘Maharatna’ tag has prompted many banks and cash-rich companies to show interest in BHEL. Selling shares to institutions will help in two ways. First, the Government will get the money it is aiming for, and second, BHEL’s already-subdued shares will not be affected. ref: http://www.thehindubusinessline.com/companies/banks-cashrich-psus-keen-to-buy-govt-stake-in-bhel/article5538947.ece

Kusumjit Sidhu resigns from BHEL board

Bharat Heavy Electricals Ltd (BHEL) today said Kusumjit Sidhu has resigned from its board of directors. Sidhu's resignation from the board is effective from January 1. "... Consequent upon relinquishing charge of AS & FA, DIPP (Department of Industrial Policy and Promotion) to assume the charge of Secretary, Department of Public Enterprises, Kusumjit Sidhu has resigned from the position of part-time official director," the company said in a regulatory filing. ref: http://www.business-standard.com/article/pti-stories/kusumjit-sidhu-resigns-from-bhel-board-114010201011_1.html