India's BHEL says European co to join nuclear JV

MUMBAI, July 10 (Reuters) - Indian power equipment maker Bharat Heavy Electricals (BHEL.BO) is close to finalising a European partner for an existing joint venture with Nuclear Power Corp of India, its head said on Friday.

The partner would bring in technology and get a 30-35 percent stake in the joint venture to build turbines for nuclear power plants, Chairman and Manging Director K Ravi Kumar told reporters.

An announcement was likely by the end of this month, he said.

The state-run firm expects revenue growth of at least 25 percent in the fiscal year ending March 2010, Ravi Kumar said.

It made a profit of 31.4 billion rupees ($641 million) in 2008/09, on revenues of 262.3 billion. ($1=49 rupees) (Reporting by Ami Shah; Editing by John Mair)