State-owned power equipment maker Bharat Heavy Electricals Ltd (BHEL) today said it would join hands with GE India Industrial Pvt Ltd for manufacturing water-treatment equipment.
"BHEL and GE India Industrial, a 100% owned subsidiary of GE, USA, will jointly engineer and supply water treatment solutions for the Indian market," the company said in a statement.
According to the terms of the agreement, the joint venture will help BHEL acquire the capability to develop large water-treatment systems based on GE Products, on its own, it said.
Experts peg the domestic water treatment market during 2011-15 in power generation, potable water and waste water treatment at approximately Rs18,000 crore. Out of this, the power sector alone would require water treatment systems worth Rs8,000 crore.
On Monday, BHEL gained 0.64% to Rs2,271 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.90% up at 19,957.59 points.
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