Make BHEL nodal agency for government-funded overseas power projects: Heavy Industries Ministry
NEW DELHI: BHEL grappling with tough business environment, Heavy Industries Ministry will pitch for making the powergear maker the nodal agency for executing all overseas power projects that are financed by the Indian government. BHEL, is going through tough times, primarily due to sluggishness in the sector and cheaper overseas imports hurting its prospects.
The Ministry of Heavy Industries and Public Enterprises has assured BHEL of various possible assistance from the government side. "BHEL may be appointed as nodal agency for execution of all power generation projects financed by the Government of India under the Line of Credit agreement," according to the Memorandum of Understanding (MoU) signed between the Department of Heavy Industry and the company for the current financial year.ECONOMIC TIMES