BHEL will hold 25% stake in the proposed Rs.9,000 crore venture, while KSEB will hold the remainder. As the project will have a debt-equity ratio of 80:20, BHEL will have to invest around Rs.500 crore toward equity contribution.
BHEL will supply the equipment for the JV, which will execute the 2x800-MW coal-fired project.
BHEL is joining the JV company for securing the order for providing the equipment for Rs.6,000 crore, an official said, adding the agreement would incorporate a clause providing an exit option to BHEL once the project was commissioned.
BHEL has an order book of Rs.1,40,000 crore, of which it won contracts worth Rs.60,000 crore last fiscal.
Also, with the order, BHEL has maintained its track record of bagging most of the orders for power generating equipment in Karnataka. The company has commissioned about 4,300MW of power generating sets in the state, which include thermal as well as hydro units of various ratings.
BHEL is already executing major contracts for supply of main plant equipment with supercritical parameters for the 2x660 MW Barh Thermal Power Project Stage-II of NTPC and the 3x660 MW Bara Thermal Power Project of Prayagraj Power Generation Company Ltd., a part of the Jaypee Group. BHEL is also executing a contract for supply of supercritical Steam Generators to APGenco's 2x800 MW Krishnapatnam Thermal Power Project, which is in an advanced stage of completion.
BHEL-KSEB May Form Joint Venture To Set Up Power Project
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