BHEL Issues Clarification About DVC Order In Jharkhand

BHEL in a regulatory filing has informed that the order from DVC is still not confirmed.

What Happened: In a PIB press release issued yesterday, by the Ministry of Power, Damodar Valley Corporation (DVC) said that it has finalised the tender for the engineering, procurement and construction package of the Koderma thermal power station.

However, in an exchange filing today, the PSU said that it had submitted an offer for the 2×800 MW DVC Koderma tender in June 2024. “The order is yet to be confirmed by DVC,” the company said.

The investment is aimed at bolstering the economy and aiding the local population, the Ministry of Power said in a statement.

"With this investment, which would also have a substantial impact on the local economy and benefit the local population, the installed thermal generation capacity of DVC would go up to 8,140 MW (megawatts) by 2030," the statement added.

See Also: What’s Going On With RVNL Share Price Today?

The DVC operates in the Damodar River area of West Bengal and Jharkhand. It handles the Damodar Valley Project, which is considered to be India's first multipurpose project.

India is rushing to hike its thermal power capacity by 80 gigawatts by 2032 to respond to the rise in electricity demand across the country. ICRA set this target during a webinar on the trends and outlook of the thermal generation and power distribution sectors last week.

Price Action: Shares of BHEL were up 2.26% at ₹303.65 after the clarification came out..

Read Next: After Jio, Airtel Also Hikes Prices: Check Details Here

Editor’s Note: The story has been updated to include a clarification issued by BHEL on Friday morning.

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesNewsContractsMarketsBHEL