Bharat Heavy Electricals Signs Technology Collaboration Agreement with Korean Firm
Bharat Heavy Electricals Limited (BHEL) has executed a Technology Collaboration Agreement (TCA) with E2S Company Limited of the Republic of Korea. This international agreement focuses on the area of excitation systems for synchronous machines.The TCA signed between the two entities concerns Static Excitation Systems (SEE) and Brushless Excitation Systems (AVR). The scope of the business operation covered under the agreement is the Technology Collaboration Agreement (TCA) for excitation system for synchronous machines.
The collaboration is set to assist BHEL in several key operational areas. The expected rationale and benefit from this TCA include helping BHEL to design, engineer, manufacture, install, commission, service, test, retrofit, and sell both static and brushless excitation systems within India and in overseas territories. Furthermore, the agreement is anticipated to enable BHEL to maintain its competitive edge and strengthen its capabilities to handle the excitation system business for synchronous machines, thereby contributing to the Government's 'Make in India' initiative.
The details of the agreement are summarized below:
| Parameter | Details |
|---|---|
| Name of Counterparty | E2S Company Limited, Republic of Korea |
| Area of Agreement | Static Excitation Systems (SEE) and Brushless Excitation Systems (AVR) |
| Scope of Business | Technology Collaboration Agreement (TCA) for excitation system for synchronous machines |
| Nature | International |
| Consideration | CONFIDENTIAL |
The agreement specifies that the transactions do not involve related party transactions, and the details of the consideration paid or received are confidential.
BHEL Stock Price Movement
Shares of Bharat Heavy Electricals Limited are edging higher to ₹279.83 as of 1:03 PM today, gaining 5.32%. The stock is showing strong buying interest, trading on substantial volume of 20.50 million shares.Source:
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