BHEL and Nuovo Pignone Forge Strategic Partnership for Fertilizer Sector Growth

State-owned Bharat Heavy Electricals Limited (BHEL) has signed a Memorandum of Understanding with Italy-based Nuovo Pignone International to pursue compressor train revamp projects in India's fertilizer industry. This strategic partnership aims to boost BHEL's renovation and modernization business share in the sector by around 50%.

In a significant move, Bharat Heavy Electricals Limited (BHEL), a state-owned enterprise, has joined hands with the Italy-based Nuovo Pignone International through a newly inked Memorandum of Understanding (MoU) announced on Wednesday.

The agreement marks a decade-long collaboration focused on bidding for compressor train revamp opportunities within India's thriving fertilizer sector. According to the regulatory filing, Nuovo Pignone will act as the nominated vendor, working in tandem with BHEL under specified terms.

BHEL anticipates that this strategic alliance will enhance its market footprint, capturing about 50% of the business share in financial terms. The partnership underscores BHEL's strategic aspirations in the renovation and modernization of the fertilizer sector.

(With inputs from agencies.)