BHEL bags National Award for Excellence in Cost Management

New Delhi, July 3 (UNI) Engineering giant Bharat Heavy Electricals Ltd (BHEL) has won the ICWAI National Award for Excellence in Cost Management, for the second year running.

The award for 2006 was presented to BHEL Director (Finance) C S Verma by Company Affairs Minister Prem Chand Gupta at a function here, BHEL spokesperson said today.

BHEL's Hyderabad unit was selected for the award by an independent jury headed by former Chief Justice of India J S Verma.

Instituted by the Institute of Cost and Works Accountants of India (ICWAI), the award is presented annually to corporate entities for excellence in cost, quality and delivery.

BHEL has maintained a track record of earning profits and paying dividends uninterruptedly for more than three decades without a break.

Spurred by strong and consistent growth in the past few years, it has now set its sights on becoming a 10 billion dollar company by 2012.

UNI