BHEL plans JVs in nuclear, loco sectors

Power equipment supplier Bharat Heavy Electricals Ltd plans five joint ventures in the nuclear sector and locomotive manufacturing. The company has decided to invest Rs 1,000 crore in a castings and forgings joint venture, Chairman and Managing Director K Ravi Kumar said.

BHEL has initiated talks with global giants in nuclear energy such as Areva of France, Toshiba of Japan, Westinghouse of the US and GE Hitachi for building reactors. For its forgings and castings JV, the public sector major is in discussions with Areva and Bharat Forge. The company had roped in UK's Sheffield Forgemasters as technical partner in the venture, Ravi Kumar told Business Standard.

The joint venture for building steam generators for reactors will include a foreign partner in addition to NPCIL. BHEL is in talks with a major from Europe and will give 30-35 per cent stake in the JV. The announcement is expected by this month-end. The JV will build 1,000-1,600 Mw generators.

General Electric is in talks with BHEL for building diesel locomotives, while Toshiba is contemplating a joint venture for 7,500 HP locomotives.