Bharat Heavy wins $100m order in RI

Bharat Heavy wins $100m order in RI

NEW DELHI: Bharat Heavy Electricals Ltd., India's biggest power- equipment maker, won a US$100 million order to build an electricity generation plant for Indonesia's PT Merak Energi group.

Bharat Heavy will build a 120 megawatt power-generation plant, the New Delhi-based company said on Monday in a statement received by e-mail. The plant will produce power and steam for use in a process industry, the statement said.

Bharat Heavy is seeking to increase the amount of equipment it sells overseas. It is aiming for exports of 35 billion rupees ($802 million) to 40 billion rupees this year, compared with 23.3 billion rupees a year earlier, S.K. Jain, director of international operations, said on April 1.

Shares of the company rose 2.35 rupees, or 0.2 percent, to 992.9 rupees on the Mumbai stock exchange.-- Bloomberg