Wartsila India has conferred the Ninth Wärtsilä Mantosh Sondhi Award on B Prasada Rao, Chairman and Managing Director, Bharat Heavy Electricals Ltd (BHEL) for his outstanding contribution to the energy sector in India. Bjorn Rosengren, President and CEO, Wärtsilä Corporation, gave away this award.
The $9.65 billion company that ranks among the leading companies of the world in power plant equipment has had plenty of pressures to handle, most recently the Chinese invasion. BHEL has reaffirmed its leadership in its response, by raising its own target last year: It established the capability to deliver 15,000 MW per annum and further augmentation to 20,000 MW per annum is, although delayed, underway.
This year, though, the anxious debate on how to tackle the unexpected problem (mainly emerging from India's policy not to impose duty on essential equipment including power equipment) has subsided largely because of two reasons: a 14 percent duty will be imposed on foreign equipment (which, on the flip side, raises costs), and on the other, BHEL's augmented performance has countered the complaint from developers about delayed delivery and installation.
In his career spanning 33 years, Rao has handled a variety of assignments at BHEL. He was elevated to the Board of BHEL in September 2007.
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