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

Economy Business

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.


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

     

     

Main Points:-   (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.


About Bharat Earth Movers Limited (BEML)

CMD : Shantanu Roy
Headquarters: Bengaluru
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