Bharat Earth Movers to invest Rs 100 cr in JV with Brazilian firm

Mumbai, Sep 13 (UNI) The public sector undertaking Bharat Earth Movers Ltd (BEML) is slated to invest Rs 100 crore later this year in a joint venture with a Brazilian company for production of rail products like Box'N'Wagons and earth moving equipment.

A BEML release here today said the project has been undertaken via MoU between BEML and Brazilian Commerce and Construction Co (CCV), under which BEML would invest 60 per cent and CCV would pick up 40 per cent.

Apart from production for Brazil, the joint venture is also expected to supply its products to other Latin American countries.

The JV would commence commercial production within six months.

The unit would have a capacity of producing a minimum of 500 wagons and 200 earth moving equipment.

BEML expects a revenue of Rs 500 crore in three to five years, it added.

UNI SN SSS VKG1727