Bharat Heavy Electricals (BHEL), Hindustan Petroleum Corporation (HPCL), and Engineers India (EIL) have shown interest in taking over Andhra Pradesh-based Bharat Heavy Plates and Vessels (BHPV), according to sources.With three strong suitors for the BHPV, the Ministry of Heavy Industry has given its clearance to them to carry out due diligence for the company.At least two companies - BHEL and EIL - have started the due diligence process.The takeover of BHPV - which is a subsidiary of Bharat Yantra Nigam and has been making losses for the last few years - by a strong public sector company, is a part of the revival plan for the company.The plan also got the nod from the Board for Reconstruction of Public Enterprises and has strong support from the workers' unions as well.BHPV, an ISO 9001 company, is an engineering projects construction company serving sectors like refineries, petrochemicals, oil and gas, steel and metallurgy, power, defence, cryogenics and pharma among others.It has been supplying equipment to HPCL refineries and in many of the orders it wins, EIL is a consultant.Apart from HPCL, all major petrochemicals, refining and exploration companies in public and private sector are the company's customers.The company had a comfortable order book of Rs 386 crore at the beginning of this fiscal and its turnover stood at Rs 122 crore.
