Weak investment hurts local power gear makers: Patel

The heavy industries and public enterprises minister informed the Lok Sabha said that a combination of factors are affecting domestic power equipment companies.

FP Archives|Dec 21, 2014, 03:57:37 IST

New Delhi: Weak investment sentiment, financing constraints and lack of level playing field with regard to foreign competitors, are hurting the prospects of domestic power equipment makers, Heavy Industries Minister Praful Patel said today.

The heavy industries and public enterprises minister informed the Lok Sabha said that a combination of factors are affecting domestic power equipment companies.[caption id="attachment_1269653" align="alignleft" width="380"] Heavy Industries Minister Praful Patel. Image courtesy PIB[/caption]

"Weak investment sentiment, financing constraints from the banks/financial institutions... orders getting deferred or being put on hold," are among the factors that have affected order book position of local power equipment makers including Bhel.

According to the minister, some of the existing power projects are going slow or are being put on hold due to customer's constraints in releasing payments.

He said the Department of Heavy Industry and Power Ministry carries out regular review meeting with Bharat Heavy Electricals Ltd (Bhel) and extend "suitable interventions" in addressing the issues.

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