The Bengaluru-headquartered BEML has bagged a order from Delhi Metro Rail Corporation(DMRC), according to a regulatory filing.
“BEML has received variation order to contract’MRS1′ from DMRC, for additional 12 trainsets of 06 cars each (total 72 cars) to operate on line 2B and 7 of Mumbai metro project. The order is valued at ?501 crores (approx) .
With this,the total contract value has increased to ?4318 crores (approx) from the existing ?3817 crores (approx). BEML should supply the order before August 2023,” it said in a regulatory filing on Sunday.
At 09:55 am, BEML was trading at ?669.90apiece on the BSE, up 2.21% from its previous close.
Chairman and Managing Director of BEML, Deepak Kumar Hota said,” With the government”s plans to increase coal and steel production, huge infrastructure development work and goal to boost the conomy; BEML expects continuous growth in mining & construction equipment vertical in the coming years post COVID-19 pandemic.
Further, BEML officials noted that the government has directed companies to expedite capital expenditure, adding, many tenders are expected from Coal India and steel industries.
“BEML with its infrastructure, R&D and resources, is fully geared up to meet the present and future demands of mining & construction equipment,” Hota said.
To further enhance indigenisation, BEML has invited ”expression of interest” for manufacturing and technology partnerships with reputed global OEMs looking to establish and / or expand their supply chains / manufacturing base in India for manufacture of various goods and/ or service business in the areas of defence & aerospace, rail & metro & mining & construction, engines and aggregates with the overarching objective of ”Aatmanirbhar Bharat”, according to him.
The company has achieved indigenisation levels of over 90 per cent in the mainline mining & construction products and rail coaches & EMUs, over 80 per cent in high mobility vehicles and over 65 per cent in Metro cars
News Source:- Livemint