Power equipment major Bharat Heavy Electricals on Tuesday inked a memorandum of understanding with Kerala Electrical & Allied Engineering Company Ltd for setting up a joint venture to focus on core sectors like railways, industries and renewable energy and supply products to engineering giants?Siemens and General Electric. The 50:50 JV is expected to generate a turnover of Rs 60 crore in 2009-10.
?Bhel will provide necessary technical and managerial support to the joint venture,? Bhel CMD K Ravi Kumar said after signing the MoU with Kerala government-run KEL in the presence of minister for heavy industries and public enterprises Santosh Mohan Dev and minister of state for commerce and power Jairam Ramesh.
The JV will manufacture a specific range of products including traction and oil rig alternators, induction motors (up to 300 kw), traction auxiliary machines and wind electric generators (600 kw) at KEL Kasaragod unit in Kerala, Ravi said. ?This 50:50 joint venture company with KEL would supply wind electricity generators to General Electric and Siemens,? he added.