Visakhapatnam, May 10 (UNI) Union Minister for Heavy Industries Santosh Mohan Dev today expressed happiness over the efforts taken by the Bharat Heavy Electricals Limited (BHEL) to raise its capacity to meet the future energy needs of the country.
Delivering his presidential address here on the occasion of the official takeover of the Bharat Heavy Plate and Vessels (BHPV) by the BHEL, he said the long-awaited revival of the BHPV would unveil a new era in acquisitions.
A letter of authority to this effect was handed over by Dr Satyanarayana Dash, Secretary, Ministry of Heavy Industries and Public Enterprises to Mr K Ravi Kumar, Chairman and Managing Director of BHEL.
The merger costs the Centre Rs 6,500 crore while the Ministry of Heavy Industries and Public Enterprise's share stand at Rs 2,500 crore.
The highlight of the programme was the receipt of an order from A P Genco by way of MoU for setting up the country's biggest Integrated Coal Gasification Combined Cycle (IGCC) power plant at Vijayawada with a generating capacity of 125 MW.
The MoU was exchanged by K Ravi Kumar and A P Genco Managing Director Mr Jain.
Speaking on the occasion, Union Finance Minister P Chidambaram said the UPA government had provided cash assistance to the tune of Rs 3,468 crore, saving 29 sick PSUs, and writing off loans amounting to Rs 9940 crore.
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