BHEL postpones issue of bonus shares

New Delhi, July 29 (UNI) Bharat Heavy Electricals Limited (BHEL) today said its board has decided to postponed the issue of bonus shares as well as the spliting of the face value of its equity shares till the next board meeting on August 8.

The decision was taken at a meeting held here, according to information received from BHEL.

The company achieved a major milestone in the execution of mega power projects with the commissioning of the first 500 MW unit at National Thermal Power Corporation (NTPC) Vindhyachal Super Thermal Power Station (STPS) Stage III, in Madhya Pradesh.

With the synchronisation of the unit today, 12 million units of electricity will be added to the grid of the power deficit state, every day.

Valued at Rs 2,125 crore, NTPC had placed the Main Plant Package contract for the 2x500 MW Vindhyachal STPS - Stage III on BHEL, once again reposing confidence in BHEL's technological excellence and capability in executing projects of this magnitude.

With the commissioning of this unit, the cumulative generating capacity of the power station has gone up to 2760 MW. The second set is also targeted for commissioning by BHEL in 2006-07. On completion of Stage III, the generating capacity of Vindhyachal STPS will be enhanced to 3260 MW, making it India's largest power generating station.

BHEL's scope of work in the contract envisaged manufacture, supply, erection and commissioning of steam turbines, generators, boilers, associated auxiliaries, balance of plant and electricals for 2 sets of 500 MW capacity rating, besides state-of-the-art Controls and Instrumentation (C and I), Electrostatic Precipitators (ESPs) and 400 Kilo Volt (Kv) and 132kV Switchyard.

The steam generators and turbine generators were manufactured at the company's Trichy and Haridwar plants respectively, while the C and I system was supplied by BHEL's Electronics Division, Bangalore.

The company's Hyderabad plant manufactured the Boiler Feed Pumps and Heat Exchangers and the Electricals were supplied by BHEL's Bhopal and Jhansi plants.

For NTPC, BHEL is presently executing contracts at Kahalgaon STPS (1,500 MW) in Bihar, Vindhyachal STPS (1,000 MW) in Madhya Pradesh, Talcher STPS (2,000 MW) in Orissa, Sipat STPS (1,000 MW) in Chhattisgarh and Feroze Gandhi Unchahar TPS (210 MW) in Uttar Pradesh.

BHEL has fully established state-of-the-art technology for manufacture of thermal sets up to 500 MW rating and has the capability to manufacture sets up to 1,000 MW rating for power projects suited to Indian conditions using Indian as well as imported coal.

So far, the company has won orders for 37 numbers of 500 MW rating sets. Out of these, 27 sets have been commissioned and are operating at Trombay, Singrauli, Ramagundam, Korba, Farakka, Chandrapur, Simhadri, Talcher and Rihand, besides Vindhyachal.

BHEL's net profit was up by nearly 85 per cent for the period ending June 30, 2006 compared to the corresponding period of the previous year.

UNI/BKS PV VV1629