New Delhi: RITES Limited has signed a memorandum of understanding (MoU) with BEML Limited to explore and jointly bid for opportunities in the fields of metro systems and export of rolling stock. Under the MoU, RITES will provide expertise in design, engineering, marketing and any other support that may be required for tapping domestic and overseas opportunities, while BEML will be responsible for the manufacturing of customised metro coaches and rolling stock.
"The MoU will allow both the companies to leverage each other’s expertise and technologies to optimise operations and expand on a global level. It would enable BEML and RITES to jointly bid and provide the entire spectrum of services from design, manufacture to operations and maintenance for the existing and upcoming Metro systems as well as export of rolling stock and related services," said an official statement released on Thursday.
The collaboration will not only create a platform to enable exploration of business opportunities around the globe, but also facilitate knowledge sharing to strengthen the respective organisations’ operations, it added.
(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.)