Business Daily from THE HINDU group of publications
Sunday, Sep 17, 2006
ePaper
Business Daily from THE HINDU group of publications Sunday, Sep 17, 2006 ePaper |
|
|
|
|
|
|
|
Corporate
-
Alliances & Joint Ventures BEML plans joint venture in Brazil Our Bureau
Breaking new ground BEML plans to make the entire range of mining and construction equipment and spares and expects to roll out 500 wagons and over 200 earthmoving equipment and spares annually out of the new facility.
Bangalore , Sept. 16 Bharat Earth Movers Ltd (BEML) has said it will invest Rs 100 crore in a 60:40 manufacturing joint venture it plans to set up in Brazil. It has signed an MoU with CCC (Compagnie Comercio E Construcoes) and plans to take over a factory outside Rio de Janeiro to manufacture and supply rail wagons and coaches, mining and construction equipment and spares, a BEML release said. The BEML Chairman and Managing Director, Mr V. RS. Natarajan, who was part of the Prime Minister's delegation to Brazil, signed the MoU in Brasilia with the CCC Proprietor, Mr Darci Rodrigues, in the presence of Dr Manmohan Singh. BEML plans to make the entire range of mining and construction equipment and spares and expects to roll out 500 wagons and over 200 earthmoving equipment and spares annually out of the new facility. The existing factory has adequate facilities and infrastructure to take up manufacturing the equipment in the near future.
Tapping overseas markets
The defence PSU said the joint venture would help it to penetrate into new overseas markets, given the growing demand in the Brazilian and other South American markets in terms of expansion of mines and offtake of wagons. It would also help it to consolidate its leadership in construction and mining machines and railway products in the mineral-rich territory near Rio. Brazil, the largest South American country, is also poised for a big growth in rail and road logistics in the region, the release said.
More Stories on : Alliances & Joint Ventures | Overseas Investments | HCV/LCV/Tractors
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|