BEML conferred Mini Ratna status: Defence Min

Bangalore, Sep1: Defence public sector Bharat Earth Movers Limited has been granted Mini-Ratna status by the Ministry of Defence recognising its leadership poistion in the industry besides its consistent performance.

The status gave the company to incur a capital expenditure upto Rs 500 crore or 30 per cent of its networth for taking up new projects or starting new subsidiaries and technology joint ventures besides forging starategic alliances, the company said in a release here today.

The Company which had targetted a turnover of Rs 2600 crore for the current fiscal had drawn up a vision 2013 to raise its turnover to Rs 5000 crore. The Mini Ratna status would hasten the process of expansion and diversification besides boosting the Compny's introduction of value added technologies in the business segments of construction and mining, defence and railway and metro besides moving into other areas, the release added.

UNI