Railway Minister Ashwini Vaishnaw laid the foundation stone for a new hangar dedicated to standard and broad gauge rolling stock manufacturing at BEML in Bengaluru. He also conducted an inspection of the Vande Sleeper Coach at BEML's Main Building in Thippasandra, Bengaluru, and was scheduled to interact with the media later in the day.
Following the programme at BEML, Vaishnaw planned to engage with trainees and staff at the Multi-disciplinary Divisional Training Institute (MDDTI), Bengaluru (Railway Training Centre) at 2 pm on Sunday.
BEML Limited, originally established as Bharat Earth Movers Limited in May 1964, is a Public Sector Undertaking responsible for manufacturing rail coaches, spare parts, and mining equipment at its Bangalore Complex. The company, listed on both the BSE and NSE, is 54.03% owned by the Government of India, with the remaining 44.97% held by financial institutions, foreign institutional investors, banks, the public, and employees, according to the company's website.
As a 'Schedule A' company under the Ministry of Defence, BEML plays a crucial role in serving India's core sectors, including Defence, Rail, Power, Mining, and Infrastructure. The company began with a modest turnover of Rs. 5 crore in 1965 and has since grown, achieving a turnover of over Rs. 4,300 crore, according to data on its official website.
On August 21, BEML Ltd., recognized as the nation's leading defence and heavy engineering manufacturer, signed a strategic Memorandum of Understanding (MoU) with the Directorate of Marine Engineering, Indian Navy. The MoU was signed at the Naval Headquarters in Delhi by Ajit Kumar Srivastav, Director of Defence at BEML, and Rear Admiral K Srinivas, ACOM (D&R) of the Indian Navy, in the presence of BEML's Chairman & Managing Director, Shantanu Roy, along with senior Defence officials.
This agreement represents a significant step in enhancing collaboration between BEML and the Indian Navy for the indigenous design, development, manufacture, testing, and product support of critical marine equipment and systems. The partnership aligns with the Government of India's Aatmanirbhar Bharat initiative, which aims to bolster self-reliance in defence production and reduce dependence on foreign imports.
