BHEL enters pact with Volvo Eicher for Type IV cylinders

16 Jun 2023 , 11:19 AM

Bharat Heavy Electricals Limited (BHEL) and Volvo Eicher Commercial Vehicles Limited (VECVL) have signed a Memorandum of Understanding (MOU).

The two companies collaborated to commence a Joint project for development and deployment of Type – IV Cylinders (Hydrogen / CNG) in Commercial Vehicle Segment.

Following this development, BHEL’s counter was trading 1.36% higher at Rs 85.70, against the previous close of Rs 84.55 on NSE. The counter touched an intraday high and low of Rs 86.30 and Rs 85.20 respectively.

Further, a consortium led by BHEL and Titagarh Rail Systems agreed to manufacture and supply 80 fully assembled Vande Bharat sleeper train sets by 2029, as well as maintain them for 35 years.

The order is estimated to be valued at Rs 24,000 crore.

The order would be carried out over a six-year period. The first prototype would be delivered within two years, followed by the remaining deliveries.

The company’s focus to adopt cutting-edge technology to improve engineering prowess will enable it to build cutting-edge railway trainsets that meet global standards.

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