BEML Ltd., a schedule A company under the Ministry of Defence, and a leading Rail & Metro manufacturer, signed a Memorandum of Understanding (MoU) with IRCON International Ltd. to explore and address opportunities in the overseas market by synergizing each other’s strengths for large infrastructure projects in the transportation sector.
At a function held in New Delhi on December 27, 2019, MoU copies were exchanged in the presence of Dr. D.K. Hota, CMD, BEML, and Mr. S.K. Chaudhary, CMD, IRCON International Ltd.
This MoU is aimed at promoting supply of BEML manufactured rolling stock as well as 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.
Speaking on the occasion, Dr. D.K. Hota said: “Both the companies by synergizing their strengths can attain new heights in the international market. Government of India LoC is huge opportunity for BEML & IRCON to work together”.
CMD BEML also mentioned that the true vision of Prime Minister’s “Make in India” is epitomized by BEML’s strong manufacturing and R&D capabilities.
Mr. S.K. Chaudhary 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 great organizations for projects outside India.
This is a step towards further thrust on globalization by joining the complementary strengths of two large CPSEs.