Chandigarh, May 21 (UNI) Bharat Earth Movers Ltd (BEML), a public sector undertaking under Defence Ministry, has signed a 12-year- agreement with Coal India Ltd (CIL) for jointly producing Off the Road (OTR) tyres.
The agreement will meet the production requirement by BEML and after-sale requirement by CIL.
The OTR tyres will be produced by Apollo Tyres and JK Tyres in an exclusive facility being created with the funding from CIL and BEML.
CIL will invest Rs 200 crore, Rs 100 crore each in Apollo and JK Tyres as part of back-to-back funding for the tyre project.
Recently, BEML had also entered into a Memorandum of Understanding (MoU) with National Aluminium Company (NALCO) to collaborate for the production of aluminium wagons for movement of ore for NALCO.
The wagons will be manufactured by the BEML, with the aluminium to be supplied by NALCO for movement of bauxite from NALCO mines to its plants.
UNI HS SG KP1755