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State-owned Bharat Heavy Electricals Ltd (BHEK) would take over Bharat Heavy plate & Vessels Ltd (BHPV), Visakhapatnam, as a subsidiary and pump in Rs 275 crore as capital expenditure into the company. Besides this, BHEL would also invest Rs 34 crore as equity in the company. The Government approved in principle the take over of BHPV by BHEL. The cabinet approved the financial restructuring nad strengthening package of BHPV, with the direction that the valuation of BHPV be carried out prudently on the basis of established principles.
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| Posted : 2/27/2008 |
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