BHEL seals prestigious order for Compressor Package from Iraq; stock spurts ~3%

30 Mar 2022 , 01:23 PM

Bharat Heavy Electricals Limited (BHEL) pins yet another milestone in its international business by bagging a prestigious order for a Compressor Package from Iraq.

The company won this order amidst stiff competition, placed by the Northern Refineries Company (NRC), a National Oil refinery company owned by the Ministry of Oil, Republic of Iraq. The order is for the Package for Baiji Refinery in Iraq.

The scope of the order includes the design, engineering, manufacturing, and supply of an electric motor-driven Recycle Gas Centrifugal compressor and will be executed by BHEL’s International Operations Division along with its manufacturing units at Hyderabad and Bhopal.
The company will also replace the existing compressor supplied by it in the year 2000, damaged due to war, with a new compressor.

BHEL has a noticeable presence in Iraq, as it has been a supplier of several Gas Turbine based Power Plants, including 4x157 MW Gas Turbine Generator (GTG) units for Baiji Power Station and 2x125 MW GTG units for Rumailla Power Station. It has also executed a turnkey project for the construction of the 4x125 MW Gas Turbine based Sulaymaniyah Power Project in Iraq.

In the international market, BHEL has so far supplied compressors to France, Bangladesh, Iraq, Iran, Oman, and Belarus.

The cumulative portfolio of BHEL's overseas power projects stands at 17 GW out of which over 11 GW has already been commissioned.

BHEL is currently trading at Rs50.50 up by Rs1.4 or 2.85% from its previous closing of Rs49.10 on the BSE. Its scrip has touched intraday high and low of Rs50.70 and Rs49.40 respectively.