Companies

BEML signs pact with IRCON to explore overseas market

Our Bureau Bengaluru | Updated on December 27, 2019 Published on December 27, 2019

BEML Chairman DK Hota

BEML Ltd, a defence public sector, signed a memorandum of understanding (MoU) with IRCON International Ltd to explore opportunities in the overseas market by synergising each other’s strengths for large infrastructure projects in the transportation sector.

At a function held in New Delhi today, MoU copies were exchanged in the presence of DK Hota, CMD, BEML and SK Chaudhary, CMD, IRCON International Ltd, said a company release.

The MoU is aimed at promoting supply of BEML manufactured rolling stock and construction equipment for railway projects outside India wherein IRCON will carry out civil and construction work as well as facilitate design validation and provenness for rolling stock of BEML to address export opportunities together.

Hota said, “Both the companies by synergising their strengths can attain new heights in the international market. Government of India LoC is huge opportunity for BEML & IRCON to work together.” He further mentioned that the true vision of Prime Minister’s ‘Make in India’ is epitomised by BEML’s strong manufacturing and R&D capabilities.

SK Chaudhary, CMD, IRCON, said, “IRCON has a strong International presence and have proven capabilities in the field of track laying, construction, electrification of railway and infrastructure construction projects and are presently operating in Algeria, Myanmar, Bangladesh, Nepal and Sri Lanka”.

He appreciated BEML’s capabilities and international presence expressed that this MOU may turn a significant leaf in the journey of both these organisations for projects outside India. This is a step towards further thrust on globalisation by joining the complementary strengths of two large CPSEs.

Published on December 27, 2019
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