BGR Energy Systems Ltd said here that it is expected to do a financial closure of its Rs 4,400 crore boiler and turbine manufacturing facilities set to come up in Kanchipuram district of Tamil Nadu. The company has appointed SBI and IDBI for the same. Besides, the company has also said that it is planning to bid for power projects totalling 40,000 Mw (worth Rs 30,000 crore), including gas-based power projects with a capacity of 2,000-3,000 Mw.
It may be noted, BGR Energy in August last year signed memorandum of under standing (MoUs) with Hitachi Ltd., Japan, and Hitachi Power Europe GmbH, Germany, a Hitachi subsidiary to set up boiler and turbine manufacturing facilities T Sankaralingam, managing director, BGR Energy Systems said that the company has spent Rs 150 crore to acquire land for the project. The investment was from the Rs 960 crore equity portion of BGR,which will spread over three years. During the current fiscal the company is planning to spend another Rs 250-300 crore.
Earlier the company did not disclose the location ar the time of signing the MoU in August last year. According to sources, the project is now coming at Kanchipuram district and around 400-500 acres of land being acquired for the two facilities.
Meanwhile, Sankaralingam added, financial closure for the project will be done in the next 3-4 months and the product is expected to be rolled out in 14-18 months from the facility.
It may be noted, BGR Energy in August last year signed memorandum of under standing (MoUs) with Hitachi Ltd., Japan, and Hitachi Power Europe GmbH, Germany, a Hitachi subsidiary to set up boiler and turbine manufacturing facilities.
The plant will have a capacity to manufacture five units per annum of 660 Mw, 800 Mw and 1,000 Mw, earlier the company said during the signing of the MoU.
Meanwhile, the Chennai-based EPC company for power, oil and gas sector projects has said that in 2010-11 the company has bagged orders worth Rs 2,941 crore and closing order book size is Rs 7,971 crore, which include Rs 2,500 crore from the private sector. The current order book include Rs 7,350 crore from power sector, Rs 400 crore from oil and gas and Rs 250 crore from others.
A Swaminathan, director - sales and marketing, BGR Energy added, the company is bidding for 40,000 Mw projects worth Rs 30,000 crore. This includes 2,000-3,000 MW of project gas-based and around 2000-4000 MW imported coal-based.
Company’s revenue in 2010-11 rose by 55 per cent to Rs 4,474.49 crore from Rs 3,069.25 crore, an increase of 55 per cent, a year ago. Company’s net profit rose to Rs 324.21 crore from Rs 201.02 crore.
BGR Energy is a Chennai-based company in the business of turnkey engineering and contracting for Balance of Plant and full service Engineering, Procurement and Construction for power projects in India and LSTK contracts for Oil and Gas projects in India and abroad.
