Companies

BEML, HEC sign MoU to make equipment for mining sector

Anil Urs Bengaluru | Updated on July 31, 2018 Published on July 31, 2018

Two public-sector undertakings -- BEML Ltd and Heavy Engineering Corporation Ltd (HEC) -- have signed an MoU to meet the growing requirement of the mining sector. Both the companies have synergies in their product profiles and are to manufacture and supply products such as rope shovels and walking draglines for the mining industry.

The joint effort would help the country attain ‘self-reliance’ in such equipment, saving foreign exchange. Further, it will also help counter the competition from MNCs and resist further entry of other global players for the supply of rope shovels and walking draglines.

BEML-HEC is also exploring the possibility of getting funding from the Department of Heavy Industries (DHI) for developmental projects such as the ‘Development of 20CuM Rope Shovel’.

The MoU was signed in the presence of Anil Kumar Jha, Chairman and Managing Director, Coal India Ltd (CIL), a customer of both BEML and HEC. Signing the MoU, Deepak Kumar Hota, CMD, BEML Ltd, said, “Considering the huge business prospects in the mining industry, especially in CIL, this is an opportunity to collaborate and synergise the strengths of both the organisations, to produce products for the sector and effectively utilise installed facilities. This will also help us in utilising the existing SME eco-system. Since BEML is located close to Tamil Nadu, the MoU will benefit the MSME enterprises.”

Avijit Ghosh, CMD, Heavy Engineering Corporation, said, “The MoU will prove to be a landmark in joint collaboration between two public sector industries for the mining industry and the country. During the CPSE conclave, the Prime Minister urged the PSUs to work together and nurture each other’s strengths. This is a step in that direction.”

Published on July 31, 2018
This article is closed for comments.
Please Email the Editor