BHEL, MMTC to export power plant equipment

New Delhi, Sep 3 (UNI) The Minerals and Metals Trading Corporation (MMTC) today agreed to promote the export of power plant equipment manufactured by Bharat Heavy Electricals Limited (BHEL).

An MoU in this regard was signed by BHEL CMD Ashok K Puri and his MMTC counterpart Sanjiv Batra here.

''The MoU envisages using opportunities as a result of counter trade and bulk buying by MMTC to promote the export of BHEL equipment in overseas markets, where it is difficult to get payment in hard currency,'' a BHEL spokesman said.

The MoU will also address the issue of energy security for the country by linking import of fuels, such as coal, with the export of power projects, he added.

The MMTC and BHEL have already been cooperating in various fields.

BHEL has recently commissioned a 24 MW gas turbine for MMTC-promoted Neelachal Ispat Nigam Ltd. (NINL), in Orissa. It is the first project of this magnitude in Asia where flue gas is being used for production of power as an eco-friendly measure.

BHEL is one of the largest exporters of engineering products and services from India. Over the years, it has established its footprints in 70 countries.

UNI