BHEL signs three MoU in Kazakhstan for power projects
Bharat Heavy Electronics Limited (BHEL) has signed three strategic agreements with Kazakhstan companies in order to deepen its roots in Central Asia.
MoU with JSC Samruk Energy:
- BHEL will work with JSU on projects of mutual interest; JSU is the national power utility of Kazakhstan having a major share in the Kazakh power sector.
MoU with KUS:
- BHEL will work with KUS in the energy sector for design and construction of power plants. KUS is one of the largest utility companies in the Kazakh power sector specifically work in power generation; transmission and sale of heat and electricity. It is owned by the $ 9 billion assets Ordabassy Group.
MoU with Kaznex Invest:
- BHEL will work with Kaznex Invest for co-operation in executing projects in Kazakhstan.
Kaznex Invest works under the Ministry of Investments and Development of Kazakhstan, it is national export and investment agency of Kazakhstan.
It should be noted that BHEL has been rapidly increasing its focus on the Commonwealth of Independent States (CIS) region and has successfully executed orders to its member countries.
Owing to projects in CIS region, Kazakhstan has emerged as favourable investment destination for BHEL, its regional office being located in Almaty, Kazakhstan.
Commonwealth of Independent States (CIS): It is an association of former Soviet republic formed after disintegration of Soviet Union in 1991 by Russia, Belarus and Ukraine. It includes Russia, Ukraine, Belarus, Kazakhstan, Tajikistan, Uzbekistan, Armenia, Georgia, Azerbaijan, Moldova, Kyrgyzstan, and Turkmenistan.
Month: Current Affairs - July, 2015