Bharat Heavy Electricals Ltd (Bhel) has entered into an MoU with another public-sector firm, MMTC, to jointly work towards increasing exports of power plant equipment from India.
As per the MoU, the two companies will tap opportunities of counter trading and bulk buying by MMTC to promote the exports of Bhel equipment overseas, a Bhel statement said.
It also addresses the issue of energy security by linking import of fuels such as coal with the export of power projects. The MoU was signed between Bhel chairman and managing director Ashok K Puri and MMTC chairman and managing director Sanjiv Batra on Monday.
The MoU envisages using opportunities as a result of counter trade/bulk buying by MMTC to promote the export of Bhel equipment in overseas markets, where it is difficult to get payment in hard currency. This MoU will also address the issue of energy security for the country by linking import of fuels, such as coal with the export of power projects. MMTC and Bhel have already been cooperating in various fields. Bhel has commissioned a 24 mw Gas Turbine for MMTC promoted Neelachal Ispat Nigam Ltd., in Orissa.
