News  NEWS

Kerala government allows BHEL to exit from joint venture with Electrical Machines Ltd.

601 times viewed
Source: PTI
Tuesday, June 13, 2017

 THIRUVANANTHAPURAM: The Kerala government today allowed Bharat Heavy Electricals Limited (BHEL) to exit the joint venture (JV) with State-run Electrical Machines Ltd. at Kasaragod. 


A decision in this regard was taken at a high-level meeting chaired by Chief Minister Pinarayi Vijayan. 

BHEL-EML was incorporated in 2011, by acquiring the Kasaragod unit of KEL, a State PSU, as a joint venture with Government of Kerala. 

BHEL had 51 per cent equity in the JV and the Kerala government holding 49 per cent. 

However, BHEL was unwilling to invest any amount as per the agreement, and also wanted to exit the JV, a government release said. 

The company with 174 employees was running on loss. 
In these circumstances, the Chief Minister called a high-level meeting in which Industries Minister A C Moideen, Member of Parliament P Karunakaran, Chief Secretary Nalini Netto and BEHL-Electrical Machines Ltd Managing Director S Basu, among others participated. 

BHEL-Electrical Machines Ltd, Kasaragod, is a Central Public Sector Enterprise (CPSE) and a subsidiary of BHEL, a Maharatna company. 


Comments:

10-Sep-2017
By JimmiNu
KQQvu0 http://www.FyLitCl7Pf7ojQdDUOLQOuaxTXbj5iNG.com



Post Your Comment:

Name:*
    
E-mail:*
    
Comments:*
    


Also Read:

»

New interpretation of customs rule leaves solar developers stranded

»

L&T plans to bid for more ONGC work after Daman win

»

Import of oil-drilling rigs kept out of GST purview

»

Green energy tariffs will fall further, help achieve targets: Anand Kumar

»

IGL launches pre-paid smart cards for CNG, cooking gas

»

Petrol dealers call off strike, allege arm-twisting by OMCs

»

Birender Singh urges MECON to play a key role in enhancing steel consumption in India

»

Diesel prices soar to all-time high in Delhi

»

Tamil Nadu cancels 500 MW solar auction held in Jan-Feb

»

First-ever shipment of US crude oil to India arrives at Odisha's Paradip Port

News  NEWS ARCHIVE
   
Home | Recent News | Privacy Policy | Disclaimer | Feedback | Sitemap | Contact Us

© Copyright Power Hub 2012-2014, All rights reserved.