BHEL in talks with foreign firms for JV

State-run power equipment maker BHEL today said it would finalise a global technology partner for the proposed joint venture to manufacture power transmission equipment within three months.

“The power transmission equipment (manufacturing) joint venture will be in place in the three months, we are in talks with some international players,” CMD BHEL B P Rao told reporters in his first press conference after assuming charge of the company.

He, however, declined to divulge the name of international firms. Earlier, this fiscal the company had announced collaborating with a foreign company for manufacturing power transmission equipment.

The JV would focus on manufacturing 765 kilo volt (KV) and 1,200 KV transmission equipment. BHEL, which has an orderbook of Rs 1,25,000 crore, expects to bag new contracts worth about Rs 20,000 crore during the current fiscal. BHEL has lined up a capital expenditure of Rs 2,400 crore for 2009-10. It plans to manufacture equipment that can generate 15,000 Mw of electricity by December, 2009 and 20,000 Mw by 2012.

Often targeted by power generating companies for delayed equipment supply, Rao said, “We would focus on improving the delivery capacity of the company.”

To revamp offshore oil rigs business

To revive its offshore oil rigs business, state-run BHEL today said it would approach shipyards for providing equipment used for making oil rigs. “We would approach some shipyards for providing equipment for manufacturing offshore oil rigs... cannot name them (shipyards) as of now,” B P Rao told reporters.

The company had earlier decided to quit its deep-water oil rig business, as it was unable to find a suitable partner due to investment constraints. “We are in onshore oil rigs business with ONGC and Oil India... We are engaged in refurbishment of these rigs,” Rao said.