 "BHPV merges with BHEL, becomes its 17th unit")
As part of the rehabilitation scheme approved by the Board for Industrial & Financial Reconstruction (BIFR), Bharat Heavy Plate and Vessels Ltd (BHPV) has been merged with Bharat Heavy Electricals Ltd (BHEL). Until the merger, BHPV was a wholly-owned subsidiary of BHEL.
Through the merger, BHPV has become the 17th manufacturing unit of BHEL. The unit will now be named Heavy Plates and Vessels Plant (HPVP), Vishakhapatnam.
After the Cabinet approval in February this year, the merger proposal was filed with BIFR in March and the entire merger exercise was completed in a record time of five months thereafter.
The merger with HPVP, which has a good track record in the oil, steel, cement and fertiliser sectors, will help BHEL further diversify its product portfolio. HPVP will continue to manufacture compact heat exchangers for the light combat aircraft Tejas meeting all technical requirements mandated by the relevant military standards, BHEL said in a statement.
“This would also facilitate BHEL’s entry into the oil & gas sectors for products like group gathering stations, gas processing units, etc as BHEL's presence in the process industries like refineries, petrochem, and fertilisers has earlier been limited to supply of individual products like boilers, turbines, motors, etc,” the statement noted.
According to the statement, after the merger, BHEL will be in a position to bid for the entire systems / sub-systems and progress to qualify for EPC (engineering, procurement and construction) contracts in the sectors where HPVP has presence. BHEL expects an additional business of over Rs 5,400 crore in the next five years.
Through the merger, BHPV has become the 17th manufacturing unit of BHEL. The unit will now be named Heavy Plates and Vessels Plant (HPVP), Vishakhapatnam.
After the Cabinet approval in February this year, the merger proposal was filed with BIFR in March and the entire merger exercise was completed in a record time of five months thereafter.
The merger with HPVP, which has a good track record in the oil, steel, cement and fertiliser sectors, will help BHEL further diversify its product portfolio. HPVP will continue to manufacture compact heat exchangers for the light combat aircraft Tejas meeting all technical requirements mandated by the relevant military standards, BHEL said in a statement.
“This would also facilitate BHEL’s entry into the oil & gas sectors for products like group gathering stations, gas processing units, etc as BHEL's presence in the process industries like refineries, petrochem, and fertilisers has earlier been limited to supply of individual products like boilers, turbines, motors, etc,” the statement noted.
According to the statement, after the merger, BHEL will be in a position to bid for the entire systems / sub-systems and progress to qualify for EPC (engineering, procurement and construction) contracts in the sectors where HPVP has presence. BHEL expects an additional business of over Rs 5,400 crore in the next five years.