Bhel plans to diversify into ultra deep water rigs
Refusing to divulge any names, chairman and managing director Bhel Ravi Kumar said the company has been in talks with two leading firms for a technology tie-up to manufacture offshore oil rigs.
The Bhel chairman said he has offered a majority stake to its JV partner for manufacturing offshore rigs “We have not been able to make any progress so far as there are some issues over technology transfer. The proposal is at a nascent stage and depending on the success of our talks over technology transfer, we will firm up our plans in this regard,” he added.
“In the meanwhile, we will concentrate on our onshore rigs business. We will soon sign a contract with ONGC for refurbishment of onshore rig at the cost of Rs 900 crore. Besides, Bhel is also expected to get contract for onshore rig in the Gulf region,” Ravi Kumar said.
Ravi Kumar said Bhel is in the midst of setting up JVs for forgings and castings and also for railway coaches besides manufacturing of photovoltaic wafer.
“All the diversified activities envisage an investment of around Rs 3,000 crore,” he said.
Bhel’s entry into the offshore rig manufacturing is crucial especially when ONGC and RIL have
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