BHEL may not join RINL, MECON for Rs 2,000-cr steel unit

Bharat Heavy Electricals Ltd (BHEL) may not join hands with steel maker Rashtriya Ispat Nigam Limited (RINL) and MECON Ltd for the proposed Rs 2,000-crore joint venture that plans to set up a factory at Vizag for manufacturing steel for core sectors. Sources in the know said BHEL has expressed its unwillingness to be a party in the venture at a meeting with steel secretary D R S Chaudhary last week. “BHEL is not keen on setting up any such manufacturing unit as it already has factories for manufacturing equipment for power, auto and rail sectors at Trichy, Ranipet, Haridwar, Hyderabad, Banga-lore and Bhopal,” a source said. more at: http://business-standard.com/india/news/bhel-may-not-join-rinl-mecon-for-rs-2000-cr-steel-unit/476946/