BHEL gets HPCL order of Rs 1,034 crore; stock falls over 1%

State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL)  today announced that it has bagged a Rs 1,034-crore order from HPCL for its Visakh Refinery expansion project at Visakhapatnam in Andhra Pradesh.
 
It won a prestigious contract for setting up a gas turbine based captive power plant on lumpsum turnkey (LSTK basis) under International Competitive Bidding (ICB), BHEL said in a regulatory filing.
 
"Valued at Rs 1,034 crore, the order has been placed on BHEL by Hindustan Petroleum Corporation (HPCL) for its Visakh Refinery expansion project at Visakhapatnam, Andhra Pradesh," it added.
 
BHEL said this captive power plant is being set up to meet the power and steam required by HPCL for its planned refinery expansion from 8.33 to 15 MMTPA, according to a PTI report.
 
BHEL shares were trading 1.72% lower at 2.14 pm on the NSE.