Saturday, April 3, 2010

Bharat Heavy Electricals Ltd Seeks Ally For High-End Naval Gun

State-run Bharat Heavy Electricals Ltd (Bhel) is expanding its portfolio in the defence sector. Bhel aims to supply higher version of super rapid gun mount (SRGM) naval guns to the ministry of defence.Total revenue from this order could be in the range of Rs 4,000 crore to Rs 5,000 crore. The company is looking for a technology partner and expects to finalise one in the next 9-12 months.“The defence ministry has given us the mandate to develop a higher version of SRGM guns. We need the technology for which we will tie up with some foreign player. A lot of players have approached us and we are doing the due diligence,” said B Prasada Rao, chairman and managing director, Bhel.......................DNA

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