Govt mulls buyback route for Nalco, BHEL stake sale

The government is planning to opt for the buyback route, instead of an offer for sale (OFS), for divesting its stake in Bharat Heavy Electricals (BHEL) and National Aluminium Company (Nalco) so that it can get higher prices from the stake sale. The government expects to garner around R9,000 crore from these buybacks whereas OFS is likely to fetch R5,600 crore at the current market valuations. The government plans to sell 10% of its stake in BHEL, while it is expected to divest 25% of its stake in Nalco. According to Sebi norms, a company is free to fix the maximum price for the buyback and this price is independent of stock market performance. The final buyback price is usually 20-30% higher compared the current share price. For instance, during the recent buyback of Pipavav Defence, the company offered a 27% premium to the last trading price(as on date of buyback announcement). ref: http://www.financialexpress.com/article/markets/indian-markets/govt-mulls-buyback-route-for-nalco-bhel-stake-sale/203153/

BHEL bags orders for over Rs. 28,000 crore

Bharat Heavy Electricals Limited (BHEL) has been able to secure substantial orders of over Rs. 28,000 crore during the financial year 2015-2016, according to K. Mysaiah, executive director of BHEL Ranipet. In his address on the Republic Day, he said the market shrinkage had affected the top line and the highly competitive market has reduced the margins. But, despite heavy odds, orders of over Rs. 28,000 crore has been secured, he said, according to a press release. He earlier hoisted the national flag and inspected a parade on the occasion. The company was favourably placed in some of the recent tenders, including a 2 x 660 MW project in Bangladesh, he said. Talking about the achievements of Boiler Auxiliaries Plant (BAP), Ranipet unit of BHEL, he said the unit has received orders for retrofitting of Electrostatic Precipitators (ESP) for 3 x 210 MW at Wankabori, Gujarat and 1 x 200 MW at Ukai, (Gujarat) thermal plants, he added. Punjab State Power Corporation Ltd has placed a repeat order for retrofitting of Air Pre Heater (APH) in a 210 MW unit for Ropar project. BAP Ranipet has executed ESP R & M works within a short time for Tuticorin unit-5, he added. more at: http://www.thehindu.com/news/national/tamil-nadu/bhel-bags-orders-for-over-rs-28000-crore/article8156758.ece

BHEL commissions 660 MW supercritical thermal unit in UP

BHEL has commissioned the second 660 MW supercritical unit of Lalitpur Super Thermal Power Project (STPP) in Uttar Pradesh. "The year 2016 has started on a bright note for the state of Uttar Pradesh with the commissioning of the 660 MW supercritical unit of Lalitpur Super Thermal Power Project (STPP) by Bharat Heavy Electricals Limited (BHEL)," the company said in a statement. Last month, BHEL has successfully commissioned the first unit of 3x660 MW Prayagraj Super Thermal Power Project (STPP) at Bara in Allahabad district of Uttar Pradesh. The unit has been synchronised by BHEL four months ahead of the schedule agreed with the developer. The commencement of generation from the unit will result in a significant improvement of power availability. "Extra efforts were put in by BHEL for early readiness of the unit to enable the state to tide over its acute power shortage," it said. The main plant of the 3x660 MW Lalitpur STPP is being executed by BHEL. Located in Lalitpur in Bundelkhand district of Uttar Pradesh, Lalitpur STPP is being developed by Lalitpur Power Generation Company Limited (LPGCL)-promoted by the Bajaj Hindustan group. Besides, the balance 660 MW super-critical Units, two each at Lalitpur and Bara, BHEL is also executing a 500 MW units at Anpara 'D' TPS of Uttar Pradesh Vidyut Utpadan Nigam Ltd (UPRVUNL) in Uttar Pradesh, it said. All these units are in advanced stages of completion. With the commissioning of these units, in addition to two recently commissioned 660 MW units, the state of UP would have an additional power generation capacity of 4,460 MW. ref: http://www.moneycontrol.com/news/business/bhel-commissions-660-mw-supercritical-thermal-unitup_5051721.html

BHEL makes highest ever capacity addition in power sector

Bharat Heavy Electricals Limited (BHEL) has commissioned various utility power projects leading to a capacity addition of 5,010 MW in the first three quarters of the financial year. This is the highest-ever capacity addition achieved by BHEL for the corresponding period in any financial year, according to a company release. Projects aggregating to 2,270 MW have been synchronised by BHEL during the period and are available for capacity addition. In the same period, BHEL has commissioned 524 MW of industrial sets and 125 MW of overseas projects, resulting in the highest ever overall capacity addition or synchronisation of 7,929 MW, in the first nine months of a financial year.Significantly, utility sets have been commissioned by BHEL at power stations throughout India. These include one unit of 660 MW at Bara and one unit of 500 MW at Anpara in Uttar Pradesh in Northern India. One unit of 500 MW in Sagardighi has been commissioned in West Bengal in Eastern India. In the South, BHEL has commissioned one 600 MW unit in Kakatiya, a 520 MW unit in Visakhapatnam and a 500 MW unit in Tuticorin. One 500 MW unit in Vindhyanchal in Madhya Pradesh and a 250 MW unit in Sikka in Gujarat were commissioned during the first three quarters of 2015-16. A significant contribution has been made in the northeast with the commissioning of one unit of 250 MW in Bongaigaon, the release said. ref: http://www.thehindu.com/news/cities/Tiruchirapalli/bhel-makes-highest-ever-capacity-addition-in-power-sector/article8109772.ece

BHEL, 11 other PSUs running in losses: Anant Geete

Union Heavy Industries Minister Anant Geete today said that out of 32 public sector undertakings (PSUs) under his ministry, 12 including Bharat Heavy Electricals Limited are running in losses. "Out of 32 PSUs under my (heavy industries) ministry, 12 including BHELBSE -1.23 % were running in losses," he told reporters here ref: http://economictimes.indiatimes.com/news/economy/finance/bhel-11-other-psus-running-in-losses-anant-geete/articleshow/50546263.cms

BHEL commissions 520 MW thermal power unit in Andhra Pradesh

Bharat Heavy Electricals Ltd (BHEL) on Monday said it has commissioned a 520-mw coal-based thermal power unit in Andhra Pradesh. "The unit has been commissioned at the 2x520 mw Vizag Thermal Power Project of Hinduja National Power Company Limited (HNPCL), Visakhapatnam," the company said in a statement. ref: http://economictimes.indiatimes.com/industry/energy/power/bhel-commissions-520-mw-thermal-power-unit-in-andhra-pradesh/articleshow/50529901.cms

BhelBSE 0.00 % has commissioned two substations in Afghanistan, expanding its footprint in the strife-torn nation. "Bharat Heavy Electricals Limited (Bhel) has commissioned two 220/20kV substations in Afghanistan. The project has been executed by Bhel on EPC basis," the company said in a statement. The substations have been commissioned at Charikar, around 60 kms from Kabul and Doshi, around 150 kms from Kabul, it said more at: http://economictimes.indiatimes.com/industry/energy/power/bhel-commissions-two-substations-in-afghanistan/articleshow/50481272.cms

BHEL ready to meet demands of customers

With its experience, contemporary technology and state-of-the-art manufacturing facilities, Bharat Heavy Electricals Limited (BHEL), is better placed to supply power plant equipment to meet the stringent environmental norms, said S.Gopinath, Executive Director, BHEL, Tiruchi, here on Thursday. Inaugurating BHEL’s southern region customer meet and a workshop on spares and renovation and modernization of boilers and auxiliaries here, he said that the public sector major was fully geared up to meet the customers’ demands. He emphasised the need for shifting towards preventive and predictive maintenance of the power plants rather than break down maintenance. C. Radhakrishna, Director, Projects, Telangana State Power Generation Corporation Limited (TSGENCO), said the Corporation has placed order for 6,000 MW of coal based thermal power plants with BHEL. Delay in land acquisition and environmental clearances were the major factors contributing to project over runs in the power sector. He called for improving the storage management and supply schedule to meet the commissioning deadlines. Rajeev Srivastava, Executive Director, Spares and Services Business Group, BHEL, said BHEL was fully equipped with its line of spares to meet the contemporary emission standards with respect to thermal power plants. Efforts were being taken to retrofit the existing plants with necessary equipment. more at : http://www.thehindu.com/news/cities/Tiruchirapalli/bhel-ready-to-meet-demands-of-customers/article8079681.ece

Atul Sobti appointed as the new CMD of BHEL

Atul Sobti – who has been working as a board director in Bharat Heavy Electricals Limited (BHEL) – was appointed as the chairman and managing director (CMD) of the company on Friday. As a director, Sobti was heading the crucial portfolios of power and finance in the India’s largest public sector engineering and manufacturing enterprise. In addition, he has been the chairman of Raichur Power Corporation Limited, a joint venture company of BHEL and Karnataka Power Corporation Limited. “Sobti, was responsible for spearheading and strategising for the power sector business of BHEL and under his stewardship, BHEL’s power business has achieved major milestones including the highest ever capacity addition/synchronisation of 13,452 MW and 11,941 MW in 2013-14 and 2014-15, respectively,” said company’s press statement. The company has exceeded the ministry of power’s target of capacity addition by 19 per cent. “Under his leadership, the trend has continued in the current fiscal and BHEL has already commissioned/synchronised projects of around 8,000 MW, the highest ever in the first nine months of a financial year,” the statement added. Before his elevation to the board in December, 2013, Sobti, 56, was executive director (power) at BHEL, New Delhi, and was also holding concurrent charge of Industrial Systems Group, a Bengaluru based unit of BHEL. ref: