The joint venture (JV) company will cater to the requirements of castings and forgings of both Bharat Heavy Electricals Limited (BHEL) as well as Heavy Engineering Corporation (HEC) on mutually beneficial terms.
The move, to set up the JV on 50-50 equity participation basis comes, when India is looking to add power generation capacities of 78,000MW and 85,000MW in its 11th and 12th plans, respectively.
The new JV company will also manufacture some of the castings and forgings required by the two units of HEC, the Heavy Machine Building Plant and the Heavy Machine Tools Plant.
