Bharat Heavy Electricals Limited (Bhel) officially took over Visakhapatnam-based Bharat Heavy Plates and Vessels (BHPV) here on May 10. BHPV was reporting losses over the last decade and was under the Board of Industrial and Financial Reconstruction (BIFR).
According to the source, BHPV could be developed as a dedicated centre for industrial boilers, ensuring better delivery. Though the current cost structure of BHPV is similar to Bhel, costs were expected to come down due to factors like increased volumes, better financial capability leading to lower working capital borrowing costs.
Bhel will put in Rs 236 crore over the next three years apart from induction of experienced manpower and required technology. BHPV''s turnover is likely to cross Rs 1,000 crore in five years. Around 1,332 of the total 1,512 employees of BHPV (balance unqualified would be redeployed) would be continued in employment. According to the source, the 125Mw plant would cost about Rs 950 crore, of which Bhel would contribute Rs 420 crore and APGenco Rs 530 crore.
According to the source, BHPV could be developed as a dedicated centre for industrial boilers, ensuring better delivery. Though the current cost structure of BHPV is similar to Bhel, costs were expected to come down due to factors like increased volumes, better financial capability leading to lower working capital borrowing costs.
Bhel will put in Rs 236 crore over the next three years apart from induction of experienced manpower and required technology. BHPV''s turnover is likely to cross Rs 1,000 crore in five years. Around 1,332 of the total 1,512 employees of BHPV (balance unqualified would be redeployed) would be continued in employment. According to the source, the 125Mw plant would cost about Rs 950 crore, of which Bhel would contribute Rs 420 crore and APGenco Rs 530 crore.
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