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BHEL encouraged to diversify

Em News Bureau ,  Thursday, December 20, 2012, 11:57 Hrs  [IST]

In view of the slowdown in the power sector, Praful Patel, Union minister for heavy industries and public enterprises recently directed BHEL to step up its activities in other areas like renewables (including solar), transportation and defence, in a big way. While appreciating the progress made by the company in different areas, the minister asked BHEL to gear up for the future to face competition from the domestic as well as overseas companies.

Appreciating the inherent strength of BHEL, he said that the company had the resilience to get into business areas that are long gestation in nature and where profits can begin to materialize over a period of time. Patel also indicated that BHEL would soon be conferred the 'Maharatna' status.

Directing BHEL to play a more proactive role in the business area of defence, he said that the company should explore the possibilities of entering into JVs with technology leaders. He has also decided to take up the issue of the defence production capabilities of BHEL with the Ministry of Defence. Patel advised BHEL to explore possibilities of diversification in both related and unrelated areas including mass rapid transport systems, to leverage the inherent engineering capabilities of the company.
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