According to reports, spelling out its endeavour to focus on improvement in cost competitiveness and quality, Bharat Heavy Electricals Ltd. on Tuesday said it was on track to become a 20,000-MW company in power equipment making by March, 2012.
Addressing the 17th annual general meeting of the company here, BHEL Chairman and Managing Director B. Prasada Rao said the company planned to diversify into the emerging business areas such as R&D and people management.
Mr. Rao said BHEL also planned to develop economically viable solar power equipment and it would be the company’s focus area this fiscal. It is also developing advanced ultra supercritical (Adv-USC) technology in association with the Indira Gandhi Centre for Atomic Research and NTPC, as part of the National Mission for Development of Clean Coal (Carbon) Technologies.
For cost reduction, BHEL is focussing on key initiatives such as global sourcing and quicker indigenisation. The company intends to continue its diversification strategy to enhance shareholder value and is expanding its offerings in new growth areas such as solar and nuclear energy, transportation, transmission as well as distribution and water.