Country's largest power generation and other heavy equipment maker, Bharat Heavy Electricals has paid an interim dividend of Rs 298 crore to the Central Government for its financial performance during 2008-09.

On account of the equity participation of 67.72 per cent in the corporation, a dividend cheque for Rs 298 crore was presented to Union Minister for Heavy Industries and Public Enterprises Sontosh Mohan Dev by BHEL Chairman and Managing Director K Ravi Kumar.

The government, thus have received 90 per cent of the interim dividend on enhanced equity capital post-bonus for fiscal 2008-09.

In the current financial year, the company expects to achieve 20-30 per cent revenue growth. Despite higher provisioning for the impending wage revision, the company has maintained its profitability during the first nine months of 2008-09, as against the corresponding period in the previous year.

In order to develop a facility to manufacture 100 to 120 diesel/electric locomotives every year at Marohwara in Bihar, the state-run engineering equipment company had recently signed a pact with GE.

Encouraged by the strong and steady growth achieved in the last few years, BHEL has set its sights on becoming a Rs.45,000 crore company by 2011-12.