BHEL has abandoned its plans to produce offshore oil rigs

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Mon, May 11, 2009
Heavy Oil Company News
Post by Melissa Pistilli, Heavy Oil Senior Reporter

Unable to find a suitable partner for manufacturing offshore oil rigs due to huge investment requirement, the state-run BHEL declared that it has decided to shelve the plans altogether.

Mr K Ravi Kumar, CMD of BHEL, stated:

We are abandoning offshore business, we tried our best to have collaboration but we could not get one as the investments were heavy and we had to construct them (rigs) in West Asia.

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