BEML has signed a Memorandum of Understanding (MoU) with IRCON International to explore and address 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 on December 27, 2019 MoU copies were exchanged in the presence of Dr. D K Hota, CMD, BEML and S K Chaudhary, CMD, IRCON International.
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, CMD, BEML, said, “Both the companies by synergising their strengths can attain new heights in the International Market. Govt of India LoC is huge opportunity for BEML & IRCON to work together.” CMD BEML also mentioned that the true vision of Hon’ble Prime Minister’s Make in India is epitomised by BEML’s strong manufacturing and R&D capabilities.
S K 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 great organisations for projects outside India.
This is a step towards further thrust on globalisation by joining the complementary strengths of two large CPSEs.