BHEL, NTPC to jointly inject Rs 5,000 cr over 5 yrs

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New Delhi, Apr 29 (UNI) State-run Bharat Heavy Electricals Ltd (BHEL) Chairman and Managing Director Ravi Kumar today said about Rs 5,000 crore will be invested in the newly formed joint venture firm with NTPC over a period of five years for manufacturing equipment.

''About Rs 5,000 crore will be pumped into the 50:50 JV named NTPC-BHEL Power Projects Pvt Ltd to generate 4,000 MW capacity a year over five-year period,'' Mr Kumar told reporters here on the sidelines of a conference here.

The funds for the project will be pooled through seventy per cent debt and the rest equity, he said.

The CMD said the main objective of the JV is to carry out EPC contracts for power plants and other infrastructure projects as well as manufacture and supply of equipment in India and abroad.

BHEL has already expanded its capacity to 10,000 MW per annum and is currently implementing the second phase of capacity augmentation to 15,000 MW.

Mr Kumar said the new JV will further enhance the domestic capability for power plant capacity addition in order to take electricity to each village by 2020.

UNI SBA PDT RK1650

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