New Delhi, Mar 13: State-owned power equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) has bagged a Rs 18-billion ($450 million) contract to supply boiler package to the National Thermal Power Corporation's 1,320 megawatt (MW) Barh stage-II supercritical power project in Bihar.

"The company board has approved awarding boiler supply contract to BHEL at a negotiated price of Rs 18 billion," said a senior NTPC official.

"NTPC had to negotiate contract price for the project after BHEL emerged as the lone bidder for it," the official said.

"The company plans to investment Rs 73.41 billion (nearly $18 billion) in implementing the project, which will comprise two units of 660 MW each."

"NTPC expects to commission the entire capacity by March 2012," the official added.