State owned engineering major Bharat Heavy Electricals (BHEL) CMD B Prasad Rao expressed confidance that the company will cross the US $ 11 billion mark in two years.

“We have received Rs 10,000 crore worth of orders till June. We feel there will be no let-up in orders. We are looking at a turnover of US $10 billion (about Rs 50,000 crore) by 2012 and the indications in fact are that we will cross the US $11 billion-mark by then,” said Rao while speaking to media persons.

Rao also said BHEL would invest Rs 1,600 crore in the next three years to ramp up its capacity to supply equipment that can generate 20,000 Mw per annum by 2012. Reviewing the expansion works being taken up at its electronics division here, he said BHEL is committed to a capex of Rs 1,600 crore during the next three years to expand its capacity.

Welcoming competition from private sector, he said BHEL is fully equipped to guard its market share. “We are a power major that supplies all sorts of power equipment from electronics to heavy metal. Our capital expenditure is based on brown field expansion and we spend much less compared to new players who have to spend much more on green field projects. BHEL has 90 per cent success in winning tenders. We are not facing any private onslaught as such. We have depth and control on cost,” Rao claimed.

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