BHEL sees 30 per cent growth despite the global slowdown

Public sector Bharat Heavy Electricals (BHEL) expects to grow at 25-30 per cent in the current year, despite the current economic slowdown, and has lined up investment plans worth around Rs10,000 crore for the next three years.

BHEL, India's top electrical equipment manufacturing company, has a  current order book position worth Rs1,15,000 crore, said K Ravikumar, chairman and managing director of the company.

BHEL had recently signed an MoU with the Tamil Nadu Electricity Board for setting up two thermal power units of 800 MW each. It had also signed similar ventures in Karnataka, he said.

He said the expansion aims to raise BHEL's manufacturing capacity to 15,000 MW by the end of December 2009 and to 20,000 MW by December 2011.

BHEL was also in talks with Japanese and European companies for establishing a casting and forgings plant under a joint venture, Ravikumar said, adding, it was also in the process of entering the field of nuclear reactors.

BHEL, he said, was in talks with General Electronics for the manufacture of advanced gas turbine at Bhopal with an outlay of Rs1,000 crore.

He said talks were on with Alstorm and Siemens for the manufacture of high speed electric locomotives.

The Navaratna PSU is currently modernising its production units at Tiruchirappaly, Bhopal, Haridwar, Jhansi and Hyderabad.