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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