New Delhi, May 18 (UNI) BEML Ltd, PSU under the Ministry of Defence has signed a long term agreement for 12 years with Coal India Limited for joint production of OTR (Off the Road) tyres.
The agreement will meet the requirement for production by BEML and after sale requirement by Coal India Ltd.
The OTR tyres will be produced by Apollo Tyres and JK Tyres in a facility being created from the funding of CIL/BEML, the company said in a statement.
Coal India will fund BEML to a tune of Rs 200 crores for investing Rs 100 crores each in both the tyre manufacturing companies (as part of back to back funding for the tyre project.
UNI AK BJR RAI1239