BHEL to takeover BHPV on May 10

HYDERABAD: Bharath Heavy Plates and Vessels Limited (BHPV), a Central public sector undertaking which was under Board for Industrial and Financial Reconstruction (BIFR), will be taken over by BHEL.

Chief Minister Y S Rajasekhara Reddy will participate in the takeover of the BHPV by BHEL at Visakhapatnam on May 10.

The State government has extended various concessions for the revival of the BHPV.

The concessions include the transfer of title of land measuring 386.73 acres in possession of the BHPV as gift title deed in favour of BHPV and also waiver of registration and stamp duties. Waiver of Sales Tax arrears of Rs 42.16 crore and waiver of Nala Tax of Rs 43 lakh.