Union Cabinet has finally given its approval for the proposed merger of Bharat Heavy Plate and Vessels (BHPV) Vishakhapatnam with Bharat Heavy Electricals (BHEL), New Delhi. After the merger, BHPV will become the unit of BHEL and would be able to participate in tenders, obtain orders and attract best vendors for procuring materials and capital goods.
The BHPV-BHEL merger has long been hanging since Prime Minister Manmohan Singh approved it in January 2008. However, BHPV was made only a subsidiary of the company in May, 2008. Nevertheless, the company’s performance was not up to the mark, as remaining a separate company it could not derive full benefits of synergy with BHEL.
BHEL has been committed to the nation’s power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower.
Company Name | CMP |
---|---|
BHEL | 278.80 |
Bharat Electronics | 238.90 |
Thermax | 4388.45 |
Kirloskar Oil Eng | 1024.40 |
Praj Industries | 522.90 |
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