Saturday, October 4, 2014

BHEL clinches Rs.359-cr power distribution contract from NMDC; pays final equity dividend of 76%

BHEL CMD BP Rao presenting the dividend to minister Geete
MAHARATNA PSU Bharat Heavy Electricals Limited (BHEL) has bagged a Rs.359-crore contract for setting up a plant power distribution package on turnkey basis from NMDC for its three million tonnes per annum (MTPA) integrated steel plant, at Nagarnar in Chattisgarh.
 This is the second package contract bagged by BHEL from NMDC Limited for...
the same steel plant, as the company is already executing a raw material handling package at the project, BHEL said in statement.
The present order envisages design, engineering, supply, erection and commissioning of the complete power distribution system. The system will supply power through 33kV GIS based substations to the shops of the integrated steel plant, the statement added.
BHEL is India’s largest engineering and manufacturing company catering to the power generation, transmission, process industries, transportation, renewable energy, oil & gas and other infrastructure segments of the economy. BHEL has been committed to the nation’s infrastructure development programme and has reaffirmed its commitment to the Indian infrastructure sector by equipping itself for the future, by way of technology, facilities and trained manpower.
Earlier, the Maharatna PSU paid a final equity dividend of 76 percent for fiscal 2013-14. In value terms, the total dividend paid for fiscal 2013-14 amounts to Rs.693 crore, which is 141.5 percent of the paid-up capital (including an interim dividend of 65.5 percent.
Thus the PSU has been paying dividends uninterruptedly since 1976-77. A cheque of Rs.234.60 crore towards the final dividend for the year 2013-14 was presented to Anant Geete, Union minister for heavy Industries and public enterprises by B. Prasada Rao, chairman and managing director, BHEL. 

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