BHEL, NTPC join hands to set up a joint venture companyApril 29th, 2008 - 7:11 pm ICT by admin
New Delhi, Apr 29 (ANI): Bharat Heavy Electricals Limited (BHEL) and National Thermal Power Plant (NTPC) on Tuesday joined hand to set up a joint venture company to carry out engineering-procurement-construction (EPC) contracts for power plants and other Infrastructure projects as well as manufacture and supply of equipment in India and abroad.
The company in which both BHEL and NTPC would have 50 per cent share each will be called ‘NTPC-BHEL Power Projects Pvt. Ltd.’.
Chairman and Managing Directors (CMD) of BHEL and NTPC presented the certificate of incorporation of the company to Union Minister of Heavy Industries and Public Enterprises Sontosh Mohan Dev and Union Minister of Power Sushilkumar Shinde.
Speaking on the occasion, Mohan Dev said that the massive power capacity addition programme of the country shall provide good business opportunities to the company and it can carve out a niche for itself to take up EPC contracts for power plant as well as supply of equipment and services for power projects.
Shinde observed that to meet the capacity addition objective of the Eleventh Plan, the only option that is available is to go with the strategy of Pool All Resources meaning that all the capacities available in the country in terms of Machines, Manpower, Infrastructure, Expertise need to be pooled and utilized at optimum level to realize the ultimate objective of ensuring that the projects are commissioned on time.
Reiterating the commitment of the Government to ensure that a strong manufacturing base is created in the country for manufacturing of super critical units, Shinde expressed confidence that the company will move forward in an accelerated manner to achieve its objective and thus contribute in a big way for the development of power and other infrastructure projects. (ANI)
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