Kerala firm ties up with Bharat Heavy ElectricalsFebruary 3rd, 2009 - 6:24 pm ICT by IANS
New Delhi, Feb 3 (IANS) Kerala is eager to enter into tie-ups with central public sector undertakings (PSU) to strengthen and modernise the state’s public sector, Industries and Commerce minister Elamaram Kareem said here Tuesday.Speaking after Kerala Electrical & Allied Engineering Company Ltd (KEL) signed a memorandum of understanding (MoU) with the state-owned Bharat Heavy Electricals Ltd (BHEL), Kareem said the state government’s slogan was to “modernise and strengthen” the PSUs.
“Now our slogan is to modernise and strengthen the PSUs. For the purpose of development and modernisation of the state PSUs, business tie-ups are being developed with central PSUs,” he said.
The minister added that joint ventures between the state level and central public firms were also being formed “for technology upgradation, financial assistance and strengthening of management”.
According to the agreement, KEL will manufacture products for railways and other industries.
The deal was signed by BHEL chairman and managing director K. Ravi Kumar and KEL managing director P. Jyothikumar.
BHEL’s first order for manufacturing 26 alternators was handed over to KEL during the occasion.