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| Govt mulling 10% disinvestment in BHEL: Vilasrao Deshmukh |
| Press Trust of India / New Delhi Jun 19, 2009, 15:12 IST |
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The government today said it is considering offloading 10 per cent of its equity stake in navratna public sector unit BHEL.
"The point of disinvestment (in BHEL) is still under consideration... The government has definitely a positive thinking on that line," Minister of Heavy Industries and Public Enterprises Vilasrao Deshmukh said when asked whether the government is considering divesting 10 per cent in the company.
Addressing his first conference after taking charge as the Cabinet Minister, Deshmukh said his department would back the disinvestment policies of the government.
BHEL is a power equipment Rs 28,000 crore listed company. Its stock is trading at Rs 2,060.10 on the Bombay Stock Exchange.
The government, if it chooses to further disinvest its stake in the company, will have to come with a follow-on public offer.
The government at present holds a 67.72 per cent equity stake in power equipment maker BHEL, which would come down to 57.72 per cent if it divests 10 per cent equity.
Minister of Heavy Industries and Public Enterprises Vilasrao Deshmukh while announcing the 100-day agenda for its department said that BHEL would enter into an agreement with Indian Railways for supply of stainless steel EMU coaches on a long term basis.
BHEL would synchronise eight thermal and hydro sets to generate 1,200 Mw capacity in the next 100 days, he said.
He said, BHEL would sign an agreement with Madhya Pradesh Power Generation Company for setting up a joint venture to build,own and operate 2x800 Mw super critical power plant in Bansagar in the state and also sign a similar agreement with Gujarat State Electricity Generation Co for the setting-up of a 1x800 MW supercritical thermal power plant.
The company would synchronise five captive power plants totalling 228 Mw of capacity as a part of its 100-day agenda.
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