The project is scheduled to be commissioned within 39 months from the effective date of the contract.
The order is considered significant for the industry and is valued in the range of Rs 1,200 crore to Rs 1,500 crore.
BHEL clarified that none of its promoters or promoter group entities have any interest in the awarding authority. The company also stated that the transaction does not fall under related-party transactions as per applicable regulatory norms.
Bharat Heavy Electricals (BHEL) is an integrated power plant equipment manufacturer, engaged in the design, engineering, manufacturing, erection, testing, commissioning, and servicing of a diverse range of products and systems. The company caters to key sectors of the Indian economy, including power, transmission, industry, transportation, renewable energy, oil & gas, and defence. BHEL is the flagship engineering and manufacturing enterprise of India and is owned and operated by the Government of India.
Steel Authority of India (SAIL) is the leading steel-making company in India. The company is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive, and defense industries, as well as for export markets.
Shares of Bharat Heavy Electricals (BHEL) rose 0.48% to Rs 264.05, while Steel Authority of India advanced 1.87% to Rs 160.30 on the BSE.
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