Bharat Heavy Electricals (BHEL) said it has signed a contract agreement with Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise for the execution of a project in Nigeria’s Dangote Industries Free Zone.
The contract, valued between Rs 2,000 crore and Rs 2,500 crore, involves the design, manufacture, supply up to Mumbai Port, supervision of erection and commissioning, and performance guarantee testing of eight gas turbine generator packages. Civil works are excluded from the scope.
The gas turbine generator packages will be deployed at a petroleum refinery and polypropylene plant in Nigeria. The agreement was signed on 2 June 2026 and was awarded through an international tender process.
The project is scheduled for completion within 26 months from the effective date of the contract. BHEL stated that neither its promoter group nor group companies have any interest in the awarding entity and that the contract does not qualify as a related-party transaction.
Bharat Heavy Electricals (BHEL) is an integrated power plant equipment manufacturer, engaged in the design, engineering, manufacturing, erection, testing, commissioning, and servicing of a diverse range of products and systems. The company caters to key sectors of the Indian economy, including power, transmission, industry, transportation, renewable energy, oil & gas, and defence.
On a consolidated basis, the company posted a net profit of Rs 1,290.47 crore in Q4 FY26, up 155.82% YoY and 230.50% QoQ. Revenue from operations rose 36.87% YoY to Rs 12,310.37 crore in Q4 FY26 while growing 45.29% QoQ, driven by strong performance in both power and industry segments.
Shares of Bharat Heavy Electricals fell 1.18% to close at Rs 406.10 on the BSE.
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