BEML bags another order for metro train coaches from DMRC worth Rs 501 crore

• Defence PSU BEML bags metro train orders worth Rs 501 crore

• The company received a variation order to contract 'MRS1' from DMRC, for additional 12 train sets of six cars each (total 72 cars)

• The new coaches to operate on line 2B and 7 of Mumbai metro project

New Delhi: Minirtana Defence PSU BEML Limited said that it has received an order from Delhi Metro Rail Corporation (DMRC) to supply additional 12 train sets of six coaches each worth Rs 501 crore. This information has been shared by the Defence PSU during a regulatory filing to the stock exchange on November 22.

"BEML has received variation order to contract 'MRS1' from DMRC, for additional 12 trainsets of six cars each (total 72 cars) to operate on line 2B and 7 of Mumbai metro project. The order is valued at Rs 501 crores (approx)." BEML informed to BSE.

"With this, the total contract value has increased to Rs 4,318 crores (approx) from the existing Rs 3,817 crores (approx), all amounts mentioned in equivalent INR, for supplies before August 2023," it added.

ALSO READ: BEML bags an order of Rs 842 crore from Defence Ministry

In September BEML had received an order from the Ministry of Defence for supplying 330 High Mobility Vehicles (HMV), for Pinaka project at an approximate cost of Rs 842 crore.

BEML disinvestment

BEML is a Miniratna PSU that serves India's core sectors like defence, rail, power, mining and infrastructure. The company is engaged in manufacturing of rail coaches and spare parts and mining equipment at its Bangalore complex. The company had been partially disinvested and presently, the government has 54.03 percent of the total equity and the rest 46 percent is held by the public, financial institutions, foreign institutional investors, banks and employees. Under its disinvestment plan, the government is planning to sell another 26.03 percent from its remaining 54.03 percent stake.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)