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BHEL enters strategic tie-up with Nuovo Pignone International

April 9, 2025 at 07:04 PM UTCBy FilingReader AI

Bharat Heavy Electricals Limited (BHEL) (BSE: BHEL) has entered into a Memorandum of Understanding (MoU) with Nuovo Pignone International s.r.l., effective from April 9, 2025. This strategic tie-up aims to address compressor revamp opportunities within the fertilizer sector in India, with BHEL acting as the primary bidder for identified customers. Under the agreement, Nuovo Pignone International s.r.l. will be nominated as a vendor to BHEL. The collaboration is set to continue for ten years, or until both parties mutually agree to extend the agreement. BHEL anticipates a significant improvement in its market share within the fertilizer sector's repair and maintenance business, targeting approximately 50% of the business share in financial terms. The agreement does not involve any upfront consideration or related party transactions.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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