BHEL pays Rs 298-crore interim dividend to Govt

The government, which holds 67.72 per cent stake in BHEL, would receive 90 per cent of the interim dividend on enhanced equity capital post-bonus for fiscal 2008-09.

State-owned Bharat Heavy Electricals has paid an interim dividend of Rs 298 crore to the government for the fiscal 2008-09.

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The cheque was presented to Union Minister for Heavy Industries and Public Enterprises Sontosh Mohan Dev by BHEL Chairman and Managing Director K Ravi Kumar recently.

The government, which holds 67.72 per cent stake in the company, would receive 90 per cent of the interim dividend on enhanced equity capital post-bonus for fiscal 2008-09.

BHEL plans to invest about Rs 1,000 crore in developing locomotive manufacturing facility in the country.

It has already signed a pact with GE for developing a facility to manufacture 100 to 120 diesel/electric locomotives every year at Marohwara in Bihar.

The company, which has an order backlog of Rs 1,20,000 crore to be completed in 42 months, expects a revenue growth of 25 to 30 per cent this fiscal.