The Haryana Power Generation Corporation Ltd. (HPGCL) has issued a Letter of Intent (LoI) to state-run Bharat Heavy Electricals Ltd. (BHEL) for an EPC package in the state, the company said in an exchange filing. The order is worth ₹5,500 crore, excluding GST, BHEL said.
The package is for 1x800 MW Ultra Supercritical expansion unit at the Deen Bandhu Chhotu Ram Thermal Power Plant (DCRTPP) at Yamuna Nagar in Haryana.
As part of the order, BHEL will supply equipment including boiler, turbine, generator and associated auxiliaries. The project also involves erection and commissioning of the project and civil works.
The final taking over will take place by 57 months or nearly five years.
This is the second major order that BHEL has won this year. Last month, the company had received an order worth ₹15,000 crore Engineering, Procurement and Construction (EPC) contract from NLC India Ltd. for a 3x800 MW Talabira Thermal Power Project in the Jharsuguda district of Odisha.
BHEL is yet to report its December quarter earnings.
Out of the 18 analysts that track BHEL, 12 of them have a "sell" recommendation on the stock, while five have a "buy" rating.
Shares of BHEL ended little changed on Thursday at ₹231.20. The stock has tripled over the last 12 months, surging 202%.
First Published: Feb 9, 2024 6:59 AM IST
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