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Our Bureau

Visakhapatnam, May 5 The stage is set for the long-awaited takeover of Bharat Heavy Plate and Vessels (BHPV) here by Bharat Heavy Electricals Ltd and in all probability, the decision of the Government may be announced at a function in BHPV here on May 10, according to sources.

It is expected that the Union Minister for Heavy Industries, Mr V. Santosh Mohan Dev, the Union Finance Minister, Mr P. Chidambaram, Ministers of State Mr Jairam Ramesh (Commerce) and Mr Raghunath Jha (Heavy Industries), besides the State Chief Minister, Dr Y.S. Rajasekhara Reddy, will attend the function.

“We are busy preparing for the function and the modalities may take a concrete shape within a few days,” Mr Om Prakasah, BHPV Managing Director, said here on Monday.

The revival of the BHPV is one of the election promises of the UPA Government at the Centre and the Congress Government at the State. The Union Cabinet took a decision on the issue in November 2007, but the process was delayed and there was uncertainty about whether it would go through.

More Stories on : Mergers & Acquisitions | Environment | Bharat Heavy Electricals Ltd

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