NTPC, BHEL to form JV for power sector EPC projects
10 Sep 2007
Mumbai: National Thermal Power Corporation (NTPC) and Bharat Heavy Electricals Ltd (BHEL), both public sector enterprises, shall form a joint venture company for carrying out Engineering Procurement and Construction (EPC) activities in the power sector on mutually beneficial terms.
A.K.Puri, CMD BHEL and T. Sankaralingam, CMD, NTPC signed an memorandum of understanding to this effect in New Delhi.
The joint venture shall be 50:50 owned by NTPC and BHEL and the post of CMD of the new company shall be rotated amongst the senior officials of NTPC and BHEL
NTPC, a premier power utility having an operating capacity of over 27,900 MW, is looking for business synergy in order to expand its business activities. Over the years, NTPC has developed world technology and skills in design, engineering, construction, project management, operations & maintenance and renovation & modernization of power projects.
With 20 per cent of all India''s installed capacity it contributes around 29 per cent of country''s power generation. NTPC is now emerging as an integrated power major with plans to become a 75000 MW plus company by 2017.
BHEL
is the largest engineering and manufacturing enterprise in India in the energy
related infrastructure sector and is having specialisation, expertise in manufacturing
power plant equipment like thermal, hydro, gas and nuclear turbine generators,
transformers, capacitors, reactors, circuit breakers, switchgears, insulators,
manufacturing equipment and systems for industries viz. captive power plants,
industrial steam turbines, industrial boilers, development of rolling stock and
traction propulsion systems and technology for exploiting non-conventional and
renewable sources of energy etc.