Heavy Engineering Corporation (HEC) has planned to invest around Rs 750 crore in the next four years to modernise its facilities at Ranchi. HEC Chairman-cum-Managing Director R Misra told this to media persons after the deliberations at the 61st Indian Foundry Congress here on Tuesday.
The investments are for modernising and technological upgradation of its plants, which were mostly commissioned in 1963 with Russian technologies. HEC builds equipment primarily for steel, mining and metallurgy sectors. Last fiscal, it clocked a turnover of Rs 725 crore.
“The current outstanding order book stands Rs 1,700 crore,” he added.
Among its contracts under execution now is the $2-million special purpose machine tools supply to Bangladesh Railways.