State-run Bharat Heavy Electricals today said it has formed a 50:50 joint venture with Heavy Engineering Corporation to manufacture castings and forgings.
"BHEL and HEC have formed a 50:50 joint venture company to manufacture castings and forgings business," a company statement said.
The companies signed the memorandum of understanding at Ranchi in Jharkhand today. Minister of State for Power Jairam Ramesh and Jharkhand Chief Minister Shibu Soren were also present at the occasion, it said.
The new JV company would manufacture castings and forgings required by the two units of HEC -- Heavy Machine Building Plant and Heavy Machine Tools Plant.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app