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| Exchange Disseminated Time | BEML Ltd has informed BSE regarding a Press Release dated October 11, 2011 titled "BEML enters into Dreding business signs technical tie-up with Vosta LMG, Netherlands"
Press Release:
"BEML LIMITED, the premier Public Sector Company under the Ministry of Defence, engaged in the manufacture and supply of equipment to Core Sectors of economy viz., Mining and Construction, Rail & Metro, Defence & Aerospace, Trading and e-Engineering has forayed into Dredging business.
To exploit the emerging opportunities in the Dredging business on account of Maritime Agenda announced by Govt. of India which emphasizes on navigable depths of Water Ways, BEML has signed a Memorandum of Agreement with globally renowned Dredging Company viz., M/s. Vosta LMG, Netherlands for the design, construct and deliver various types of Dredgers and other vessels to customers located in India and South East Asia.
The MoA signed today at Amsterdam by Shri V RS Natarajan, CMD, BEML and Mr. Rudolf Dietze, President & CEO, M/s. Vosta LMG provides for Transfer of Technology (ToT) from M/s. Vosta LMG and BEML will ensure manufacture and marketing of Dredgers for inland and 3outh-East Asian regions. Through this diversified Business, BEML is expected to generate an additional volume of around Rs.220 Crore business in the next two years.
This MoA will go a long way to maintain a healthy relationship between India and Netherlands during the years to come and India will emerge as a Manufacturer and Supplier of Dredgers for domestic demand and for neighboring countries in Asia." |
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