BEML bags Rs 1500 crore coach orders from Delhi Metro

Hannover, April 25 (UNI) The State-owned Bharat Earth Movers Ltd (BEML) has bagged a Rs 1500 crore order from Delhi Metro for supplying 312 coaches for the second phase of the city metro system.

ђ These coaches will be built within India with technology transfer from South Koreaђ, BEML Chairman and Managing Director V R S Natrajan told reporters, at the Hannover Fair. In the earlier arrangement through which the company had supplied coaches in the first phase of Delhi Metro, BEML was only doing assembly. In the new arrangement, it would be technology transfer to the extent of 50 per cent.

The BEML which has become a bluechip PSU in the last four years raising its revenue to Rs 2200 last fiscal, is working on plans to set up joint ventures in Indonesia, Australia, Latin American countries of Chile and Brazil and Northern and Western Africa.ђ The 50:50 joint ventures in these countries would be for the assembling the machinery and plant for mining equipmentҒ, Mr Natrajan said.

He said BEML has already set up marketing offices in Singapore, China and Surinam . In Singapore, the company has also plans to set up a warehousing facility for the spare parts of the mining equipment.

ђ These overseas plans will help me increase my revenue from Rs 2200 crore to Rs 5000 crore by 2013 with the exports contributing as much as Rs 500 croreҒ, Mr Natrajan said.

He said the company has completed a major turnaround in the last four years. The company had a profit before tax of only Rs 13 crore on a turnover of Rs 1425 crore four years ago.

ђ Last year, I had a PBT of Rs 284 crore on a turnover of Rs 2200 croreҒ, he said.

UNI PC CS RK1450