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Bharat Heavy Plates to merge with BHEL

Em News Bureau ,  Friday, March 29, 2013, 12:15 Hrs  [IST]

Bharat Heavy Plates & Vessels Ltd, currently a wholly-owned subsidiary of Bharat Heavy Electricals Ltd, will be merged with the parent company. The Union government recently approved the merger, paving the way for BHPV to now become a unit of BHEL. A government release observed that post-merger, “BHPV would be able to participate in tenders, obtain orders and attract best vendors for procuring material and capital goods.”

BHPV was declared sick and was registered under the BIFR in October 2005. BHPV, an independent company, was converted as a wholly-owned subsidiary of BHEL in 2008. Both BHPV and BHEL fall under the ministry of heavy industries. Headquartered in Visakhapatnam, BHPV was incorporated in 1966. It supplies process plant equipment to several sectors like paper, fertilizers, metallurgy, etc. BHPV can help boost the non-power related business of BHEL, analysts feel.
 
                 
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