BHEL Share Price Surges; Receives LOI from Hindalco for 2 x 150 MW BTG Package in Odisha

Bharat Heavy Electricals Limited has informed stock exchanges about the receipt of a Letter of Intent from Hindalco Industries Limited for a power generation package linked to an aluminium expansion project in Odisha. 

Details of LOI Received by BHEL 

BHEL received the Letter of Intent on February 3, 2026, from Hindalco Industries Limited. The contract relates to the Aditya Expansion Project Phase II at Aditya Aluminium located in Lapanga, Sambalpur, Odisha.  

The disclosure was made to BSE Limited and the National Stock Exchange of India Limited on February 4, 2026. 

Scope of Work Under the Contract 

The scope includes design, engineering, manufacture, supply up to site, unloading and storage, erection, commissioning, and performance guarantee testing for a 2 x 150 MW Boiler Turbine Generator package. Civil works are excluded from the scope of the order. 

Execution Timeline 

The commissioning period for the BTG package is 35 months for Unit 1 and 37 months for Unit 2. The effective date of the contract is the date of issuance of the Letter of Intent. 

Order Value and Nature 

The broad consideration for the order is estimated at approximately ₹1,200 to ₹1,500 crore, excluding GST. The contract has been awarded by a domestic entity through a domestic tender process. 

BHEL has confirmed that neither the promoter nor promoter group entities have any interest in Hindalco Industries Limited. The transaction does not fall under related party transactions. 

Read More: Hindalco Share Price Rallies on ₹21,000-Crore Odisha Expansion, Bets Big on Battery Metals! 

Bharat Heavy Electricals Share Price Performance  

As of February 04, 2026, at 1:37 PM, Bharat Heavy Electricals share price on NSE was trading at ₹270.90 up by 1.12% from the previous closing price. 

Conclusion 

The receipt of the Letter of Intent from Hindalco Industries Limited adds to BHEL’s disclosed order book through a domestic industrial project. The contract covers comprehensive execution responsibilities within a defined timeline. 

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