Asia Bizz: India’s state-owned engineering and manufacturing company Bharat Heavy Electricals Limited (BHEL) said that it is open for collaboration with the Chinese equipment makers on April 3, 2012. BHEL is already facing stiff competition with the Chinese companies.
B Prasada Rao, the BHEL chairman and Managing director was asked about the possibility of the collaboration to which he state that the collaboration is possible if it adds value to them. BHEL today posted a net profit of Rs. 6,868 crore for the financial year that ended on March 2012.
The company has facing impact due to the import of the cheaper Chinese power equipments. Looking at the situation, the government is now planning to impose higher import duty in the Chinese equipments so that it could provide a fair field for the local manufacturers like BHEL.
While announcing the annual results, Rao said that it is open towards collaborations with the private sector. The MD noted that they are definitely open to provide help if the private sector comes to them for help. Moreover, the company will also be ready to offer 26 percent equity in power projects.
In the upcoming financial year, BHEL will also be concentrating on growth areas like defence and transportation.