The town was built in the early 60s, around the Ranipur plant of Bharat Heavy Electricals Limited (BHEL) part of Nehruvian dream of "temples of modern India". It was developed with Russian and Czech technological collaboration, at peak of Indo-Soviet partnership. In an important move in 1962, Indian signed an agreement with the Soviet Union for the supply of Rs. 23 crores worth of equipment by Heavy Electrical Equipment Plants. In the subsequent years, looking at the need for more advanced technology, it tied up with Siemens AG of Germany for the production of high capacity steam turbines and generators. In 1999, the Ranipur plant, reached a turnover of Rs 1100 crore, which reached Rs 2,658 crore for the year 2007-08. The HEEP plant along had over 7,500 employees.