BHEL expects to bag Rs 60,000 cr orders in FY11

Riding on the growth of the power sector, state-owned BHEL today said it expects to bag orders worth Rs 60,000 crore in the current financial year.

"We got new orders worth Rs 60,000 crore in the last fiscal. We expect the same for the current financial year," BHEL CMD B Prasada Rao told PTI on the sidelines of a function here.

At present, Rao said, the company's order book stands at Rs 1.48 lakh crore.

BHEL is the largest equipment manufacturer in India. It supplies its products to industries such as power, steel and cement.

India has set a revised target of producing additional 62,302 mw of energy by 2011-12. At present, it produces 1.59 lakh mw of power, in which NTPC has a major share.

Moreover, Rao said the company is awaiting for the government's approval to form a tripartite joint venture with Nuclear Power Corporation of India and French energy equipment major Alstom for producing equipment for nuclear power units.

"The proposal is with the government at present," he said.

Last month, Alstom had said it has finalised a tripartite joint venture agreement with state-run BHEL and Nuclear Power Corporation of India, a development that would help the company to tap about 45,000 MW of Indian nuclear power market.

The tripartite company is expected to initially supply turbines to eight units of 700 MW each being developed by NPCIL. The value of supplies is likely to be around Rs 6,000 crore, Alstom had said.

India is developing eight nuclear reactors of 700 MW each in the states of Haryana, Gujarat, Rajasthan and Madhya Pradesh, based on heavy water technology.