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India's BHEL gets $32 million UAE contract

Tue Aug 26, 2008 3:53am EDT

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MUMBAI, Aug 26 (Reuters) - Indian state-run power equipment maker Bharat Heavy Electricals Ltd (BHEL.BO) said on Tuesday it had won a contract for two gas turbine generating units worth 1.4 billion rupees ($32 million) from the United Arab Emirates.

The order, from International Energy Resources, is for two units of 42 MW each, BHEL said in a statement.

"The Middle East is one of BHEL's key export regions (and) one of the fastest growing markets for power generating equipment globally," it said.

BHEL has set up 14 power projects so far in the Middle East region, apart from supplying equipment for the power and oil and gas sectors in the region, it said. Shares in BHEL were up 0.8 percent at 1,702 rupees at 0746 GMT in a weaker Mumbai market. ($1=44 rupees) (Reporting by Rina Chandran; Editing by Mark Williams)



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