Addressing a press conference here on Wednesday, he said Bhel's present physical export was only five per cent and the deemed export was 25 per cent. In terms of Indian currency, it was Rs 1,700 to Rs 2,000 crore per annum and it proposed to increase its physical export by 10 per cent out of its total production in the next three years and it would be 15 per cent at the end of 2006, he added.

He said Bhel had proposed to take up modernisation works at a cost of Rs 1,200 crore to meet stiff global competition. The Bhel corporate would identify the areas like star products and improve the existing facilities at least for next eight to ten years, he said and added that the necessary consultations with the private consultants had already commenced. The proposed modernisation would be completed in the next three years, he said.He said the corporation had already cleared the Tiruchirapalli Bhel unit's Modernisation programme of its valves and fossil boilers division at an estimated cost of Rs 125 crore.

Referring to the company's order position, Ramachandran said despite the stiff global competition, the Bhel is having orders worth Rs 11,000 crore as against Rs 10,100 crore as on April first this year, he added.

Referring to the VRS, he said 8000 employees have so far opted for the scheme, bringing the total worke force of the corporation down to 54,000.Asked whether the bhel's manpower planning would be affected in the light of securing new orders and the reduced working force after implementing the vrs, he said the present workforce was enough to meet the needs.