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Moneycontrol India :: News :: BHEL takes over ailing Bharath Heavy Plates & Vessels :: Bharat Heavy Electricals :: Business :: Bharat Heavy Electricals,Bharath Heavy Plates & Vessels,BIFR
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BHEL takes over ailing Bharath Heavy Plates & Vessels
2008-05-12 12:29:56 Source : Power Breakfast/CNBC-TV18
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Bharat Heavy Electricals has taken over ailing state-owned Bharath Heavy Plates & Vessels, or BHPV, reports CNBC-TV18. BHPV with losses of Rs 868 crore was referred to the Board for Industrial and Financial Reconstruction, or BIFR, and the Union Cabinet had given its nod for the revival plan in November 2007.

 

The revival package includes waiver of loans and interest amounting to Rs 415 crore and settlement of all outstanding liabilities worth Rs 264 crore by the Center. This Rs 180 crore company supplies pressure vessels, oxygen cylinders, and boilers to heavy industries.
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