New Delhi, Apr 3 (UNI) Electrical major BHEL plans to become a Rs 45,000 crore-turnover company by 2011-12, and will enter into joint ventures with the State Electricity Boards (SEBs), Company's CMD K Ravi Kumar announced today.
''We will pick up equity in State power projects, but our equity capital will be restricted to 26 per cent,'' Mr Kumar told reporters at the Company's annual press conference.
He said BHEL will set up 2X800 MW projects as a joint venture with Gujarat SEB and 1X800 MW project each in Uttar Pradesh and Orissa.
''Karnataka has also evinced keen interest for setting up a joint venture with us,'' he added.
For orissa, he said it will be for supplying super critical sets.
''We are also in talks with Reliance Energy Ltd for providing ultra critical sets.'' Pointing out that BHEL had achieved manufacturing capacity of 10,000 MW per annum for power plant equipment in December 2007, Mr Kumar said it will be enhanced to 15,000 MW per annum by December 2009 to meet the power requirement of the 11th Plan.
He said the Company will also increase its R and D expenditure to at least Rs 900 crore by 2001-12.
UNI YJ AK RN1422