BHEL forms 50:50 JV with HEC

State-run Bharat Heavy Electricals Ltd (BHEL) has formed a 50:50 joint venture company with Ranchi-based Heavy Engineering Corporation (HEC) to manufacture castings and forgings.

Both companies have signed the memorandum of understanding at Ranchi in Jharkhand today.

The new JV company would make castings and forgings required by the two units of HEC - Heavy Machine Building Plant and Heavy Machine Tools Plant.