Coal news and updates

HEC’s order book at Rs 1,500 crore

September 18: HEC Ltd, a leading supplier of mining and engineering equipment, has a comfortable order book position of Rs 1,500 crore, a top company official told ICMW.
“As of now, we have Rs 1,500 crore worth of orders from the industry. We are also getting repeat orders. So we are hopeful about an improvement in our overall performance this year,” the official said.

Of late, the Ranchi-based PSU has been going through a tough phase mainly due to lack of modernisation and upgradation.

The official further said that the company has bagged Rs 1,000 crore order from SAIL for modernisation of the latter’s plants and recently supplied 20/5T span 33.5m EOT cranes to the upcoming bar & rod mill (BRM) at Bhilai Steel Plant. It has also won orders for supplying shovels via a recent global tender floated by Mahanadi Coalfields Ltd (MCL).

HEC has earned marginal profits in the last seven years and should continue earning the same this year, he added.