As part of its expansion plan, state-run Bharat Heavy Electricals (BHEL) will invest nearly Rs 1,200 crore in setting up a joint venture with an international firm for manufacturing transmission equipment, by June this year.
"We are in talks with a European and a Japanese firm for forming a transmission joint venture by June 2009. We would be investing close to Rs 1,200 crore in this project as a part of our inorganic growth," BHEL Chairman and Managing Dirtector K Ravi Kumar told reporters here.
BHEL is in talks with French equipment maker Areva and Japan's Toshiba on the joint venture.
The tie-ups being explored will focus on manufacturing 765 kilo volt (KV) and 1,200 KV transmission equipment.
BHEL secured orders worth Rs 10,254 crore in 2008-09 in captive power, transportation, power transmission, oil & gas and other industrial segments.
The company received bulk orders for 40 transformers from Coastal Gujarat Power, a Tata Power special purpose vehicle, for executing the 4,000 Mw ultra mega power project at Mundra.
BHEL today recorded a 6 per cent jump in its net profit after tax at Rs 3,039 crore for the financial year ended March 31, 2009, from Rs 2859 crore in 2007-08.
