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Home arrow Alliances and Joint Ventures arrow BEML forays into Dredging business through technical tie-up with Vosta LMG
BEML forays into Dredging business through technical tie-up with Vosta LMG Print E-mail
Written by James   
Wednesday, 12 October 2011
Bangalore: BEML Limited, a Public Sector Company under the Ministry of Defence, has forayed into Dredging business. BEML has signed a Memorandum of Agreement with globally renowned Dredging Company, Vosta LMG, Netherlands to 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 V RS Natarajan, CMD, BEML and Rudolf Dietze, President & CEO, Vosta LMG provides for Transfer of Technology (ToT) from  Vosta LMG. BEML will ensure manufacture and marketing of Dredgers for inland and South-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.

BEML is set to reach sales target of Rs.4200 crores for FY 2011-12 and the pending Order Book position is expected to cross Rs.5000 crores by the end of the current financial year for execution during 2011-12 and beyond. The company declared a dividend of 100 percent for the Financial Year 2010-11.

Apart from this, BEML has also set a Corporate Goal to reach Rs.5000 Cr Turnover during 2013-14 coinciding with the Company’s Golden Jubilee Year. As of date, BEML’s combined Order Book position stands at Rs.4,712 Crores for the year.

 
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