BHEL looks for minority partner in JV with SAIL

Bharat Heavy Electricals Ltd, the state-run power equipment maker, may offer a minority equity stake to a third technology partner in its proposed joint venture with Steel Authority of India Ltd (SAIL) to manufacture high-grade steel.

“We are in discussions with SAIL for setting up the plant. We estimate this will take five-six months to finalise. We are also looking for a third technology partner,” BHEL chairman and managing director, B P Rao, told Business Standard.

When asked if the third partner would have any stake in the venture or it would be just a tie-up for technology, he said, “We will offer a minority stake… BHEL and SAIL might have equal stake in the venture.” He, however, refused to give any detail.

more at:
http://www.business-standard.com/india/news/bhel-looks-for-minority-partner-in-jvsail/416489/