State-run Bharat Heavy Electrical Limited (BHEL) has decided to reduce its dependence on the power sector and enter into the areas of nuclear power and defence as well. BHEL is the largest manufacturer of equipments for the country's power sector. The PSU also exports power equipments like turbines etc. to the neighboring countries.
FACED WITH various challenges like financial crunch, etc., BHEL has been forced to look at other revenue generating options. Apart from the defence and nuclear power, BHEL is also looking towards transportation and railways as its potential business destination.
The heavy industry ministry, the supervising ministry of BHEL has given its green signal to the PSU major, according to Zee News.
BHEL is gearing to fulfill the demands of railways to supply locomotives. The PSU is also developing its capabilities to suit nuclear power sector. Reportedly BHEL along with Nuclear Power Corporation Limited has got an order for four 700 MW turbine generator sets.
BHEL which earned a net profit of Rs. 7,039 during the fiscal year 2011-12 is also focusing on developing water desalination systems apart from renewable energy areas such as photo-voltaic systems.