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BEML Ltd on Tuesday announced its entry into dredging starting with a technology tie-up with Netherlands company Vosta LMG.
The new stream of business would generate for BEML an additional Rs 220 crore in revenue in the next two years, a release from the Defence enterprise said.
BEML, currently focussing on mining and construction equipment, rail and metro coaches, and of late aerospace, closed 2010-11 with a turnover of Rs 4,200 crore.
As per an agreement the two signed in Amsterdam, BEML will design, manufacture and market a range of dredgers and other vessels using technology transferred from Vosta. It would market them for customers located in India and South-East Asia. BEML has a presence in Indonesia and Thailand.
Mr V.R.S. Natarajan, BEML CMD, and Mr Rudolf Dietze, President and CEO of Vosta, signed the agreement on Tuesday.
The national maritime agenda which specifies navigable depths of waterways had opened up new dredging opportunities. "India will emerge as a manufacturer and supplier of dredgers for domestic demand and neighbouring Asian countries," it said.
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