Heavy Engineering Corporation gets Rs.10.53 billion work order

April 18th, 2008 - 4:45 pm ICT by admin  

Ranchi, April 18 (IANS) The Heavy Engineering Corporation (HEC) of Jharkhand has got a work order of Rs.10.53 billion from the Bhilai Steel Plant (BSL). “In the recent tender for the augmentation of raw material receipt and handling facilities of the Bhilai Steel Plant, HEC was declared the lowest bidder at Rs.1053 crore (Rs.10.53 billion) amid stiff competition from Bharat Heavy Electricals Limited (BHEL),” said Abhay Kanth, company secretary, HEC Friday.

He said: “This will be the biggest ever work order in the history of HEC.”

Earlier, HEC had bagged the work order of BSL worth Rs.7.7 billion for manufacturing of raw material and coal handling plant.

“When we get the work order of Rs.1053 crore (Rs.10.53 billion) from the BSL, then our total work order will cross Rs.3,000 crore (Rs.30 billion),” said Kanth.

The turnkey work comprises designing, engineering, manufacture, supply, erection, testing and commissioning of the coal plant. HEC will have to complete the work in a period of 30 months.

HEC has work orders but it is facing a tough time to complete the projects due to paucity of capital.

“We need at least Rs.500 crore (Rs.5 billion) in the current financial to complete the projects. We are waiting for the clearance of the Jharkhand government package of Rs.250 crore (Rs.2.5 billion). If we do not get the capital on time, then it will be difficult to meet the work orders,” said an official of HEC.

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