BHEL, Kerala government to form joint venture
Last Updated : 09 Sep 2010
NEW DELHI: State-run power equipment maker Bharat Heavy Electricals (BHEL) Wednesday said it would form a joint venture with the Kerala government to acquire the Kasargod unit of Kerala Electrical and Allied Engineering Company Ltd (KEL).KEL is fully owned by the Kerala government. It manufactures alternators for the railways and other industries.The company has four units spread across Kerala and has a pan-India presence with marketing offices in major metros and select cities.In a regulatory filing, BHEL said it is signing "a joint venture agreement with governement of Kerala for forming a joint venture company to acquire the Kasargod unit of KEL which manufactures alternators for railway applications and other industrial applications."The BHEL scrip closed at Rs.2,436, up 0.08 percent at the National Stock Exchange.