|
| Exchange Disseminated Time | BEML Ltd has informed BSE regarding a Press Release dated June 03, 2010 titled "BEML Signs MoU with Govt. of Karnataka to establish yet another manufacturing complex in Bangalore"
Press Release:
"BEML LTD, the Rs. 3500 Crore Mini Ratna Public Sector Company under the Ministry of Defence, has taken part in the Global Investors Meet organized by Govt. of Karnataka to pledge its support to the State of Karnataka in its endeavour for infrastructural development.
Taking advantage of the opportunity offered by the Govt. of Karnataka, BEML has signed a Memorandum of Understanding with Karnataka Govt., for establishing yet another Manufacturing Complex in Bangalore. By this MoU, Govt. of Karnataka has agreed to provide 25 acres of land to BEML in the notified Special Economic Zone near Bangalore International Airport, Devanahalli, Bangalore Rural District and BEML agreed to establish its unit for design and manufacture of aircraft components/ Sub-assemblies and MRO activities related to Aerospace Applications, as the Company has established a new Aerospace Division as a part of its Product diversification & expansion.
By this MoU, the proposed manufacturing complex of BEML is expected to generate employment to about 250 personnel initially beside providing ample business opportunities local vendors with regard to procurement of raw materials and components. BEML eyes at substantial part of business in energizing Aero and Defence related Offset Business and gearing-up to meet the volume of business expected to exceed US$ 15 Billion in the next 10 years." |
|
|