Joint Venture19 Mar 2026, 03:08 pm
Bharat Heavy Electricals Ltd: Board Approves Joint Venture, Investment in BCGCL, and Mergers
AI Summary
Bharat Heavy Electricals Ltd (BHEL) announced the outcomes of its board meeting held on 19th March, 2026. The board approved a joint venture agreement with Titagarh Rail Systems Limited for comprehensive maintenance of Vande Bharat Sleeper Trains. BHEL also approved an investment of INR 3064.46 Crore in Bharat Coal Gasification and Chemicals Limited (BCGCL), its joint venture with Coal India Limited. Additionally, the board approved the merger of Heavy Electrical Equipment Plant (HEEP), Haridwar and Central Foundry Forge Plant (CFFP), Haridwar into a single unit, and the merger of Heavy Power Equipment Plant (HPEP), Hyderabad and Project Engineering & Systems Division (PE&SD), Hyderabad into a single unit.
Key Highlights
- BHEL approves joint venture with Titagarh Rail Systems Limited for Vande Bharat Sleeper Trains maintenance.
- BHEL to invest INR 3064.46 Crore in BCGCL over four years.
- Merger of HEEP, Haridwar and CFFP, Haridwar into a single unit.
- Merger of HPEP, Hyderabad and PE&SD, Hyderabad into a single unit.
- BHEL's equity contribution in BCGCL is at face value and done at arm’s length.