BEML, PFC ink pact to finance, execute infrastructure projects in defence, rail transportation

New Delhi: Defence PSU BEML Limited on Saturday said that it has entered in to an MoU with Power Finance Corporation (PFC) Limited. According to the company, this MoU is aimed at intensifying cooperation in financing and executing critical infrastructure projects, particularly in the areas of defence, rail transportation and infrastructure development.

PSU Watch is now on Whatsapp Channels. Click here to join

The MoU has been signed in the presence of BEML's Chairman & Managing Director (CMD) Shantanu Roy and PFC CMD Parminder Chopra. Other senior officials from both companies, including BEML's Director (Finance) Anil Jerath, PFC's Director (Projects) Rajiv Ranjan Jha, PFC's Director (Commercial) Manoj Sharma and PFC Director (Finance) Sandeep Kumar were also present.

Speaking at the signing event, BEML CMD emphasized the importance of this MoU, stating, "This partnership between BEML and PFC is a significant step forward in supporting India's infrastructure and defence sectors. The synergy between our expertise in infrastructure development and defence production, combined with PFC’s financial strength, will help deliver transformative projects that will have a lasting impact on India's economy and security landscape. We are committed to pursuing large-scale projects both in the domestic and international markets, and this MoU will be instrumental in achieving those goals."

This partnership is expected to unlock new growth avenues for critical sectors that are crucial for nation-building, including Rail & Metro, Defence & Aerospace, and Mining & Construction. With BEML’s experience and expertise in these sectors, combined with PFC’s financial strength and extensive reach in project funding, the collaboration is poised to accelerate the development of key national infrastructure projects.

In addition to rail and metro projects, the MoU places a strong emphasis on advancing defence manufacturing in line with the Indian government’s ‘AatmaNirbhar Bharat’ vision, which focuses on achieving self-reliance in defence production. BEML, a frontrunner in the design and manufacturing of modern rail infrastructure, will benefit from PFC's robust financial backing to implement large-scale projects that enhance national security capabilities.

The MoU envisions a collaborative framework where both companies work hand-in-hand to meet pressing national infrastructure demands, thus boosting economic growth and contributing to India’s industrial and defence ecosystems.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)