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PFC and BEML have signed an agreement to finance and execute infrastructure projects in the defense and rail transportation sectors.

Economy Business | Dated: 29 Oct 2024

Bharat Earth Movers Limited (BEML) and Power Finance Corporation (PFC) have signed a Memorandum of Understanding (MoU) to finance and implement important infrastructure projects, especially in defense, rail transportation, and infrastructure development.

🎯 Key Highlights:

  • - The MoU was signed on 18th October 2024 by Shantanu Roy, Chairman and Managing Director (CMD) of BEML, and Parminder Chopra, CMD of PFC.

💡 Other Important Facts:

  • (i) This partnership aims to explore new growth opportunities in critical sectors that are key to nation-building, including Rail and Metro, Defense and Aerospace, and Mining and Construction. It will also help in the development of important national infrastructure projects.
  • (ii) Apart from rail and metro projects, the MoU also aims to strengthen defense manufacturing, aligning with the Indian government's AatmaNirbhar Bharat vision, which focuses on making India self-reliant in defense production.

📚 Test Your Knowledge:

With which company did PFC recently sign an agreement to finance and execute infrastructure projects?

Correct Answer: BEML

🚀 Quick Recap:

About Bharat Earth Movers Limited (BEML)

  • CMD : Shantanu Roy
  • Headquarters: Bengaluru