BEML to set up production unit in Brazil

Hyderabad, Aug 6 (UNI) Bharat Earth Movers Ltd (BEML), a Central Public Sector Undertaking (PSU) of the Ministry of Defence, Chairman and Managing Director VRS Natarajan today announced BEML would set up a production unit in Brazil at the cost of USD 20 million dollars.

Speaking to newspersons here, Mr Natarajan said a team of Defence and BEML officials visited Brazil and held preliminary talks with three companies in July. The companies have agreed to set up the production unit. BEML would finalise company to establish the production unit as a joint venture at the earliest.

Stating that the BEML had explored all possibilites to set up a company in Brazil where it has huge market potential in mining, he said an MoU with the partner would be signed during the official visit of Prime Minister Manmohan Singh to Brazil in September.

He said the production unit would manufacture tools which could cater to the needs of Brazil and South American countries where the construction and mining sectors were growing rapidly.

BEML Director (operations) RC Suthar said the new production unit would provide employment opportunity to 100 Indians and 200 Brazilians.

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