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MoU with HEC will provide business opportunity worth Rs 200 crore per annum, says BEML

Updated : July 31, 2018 09:53 AM IST

The new MOU signed with Heavy Engineering Corporation(HEC) is expected to provide business opportunities worth Rs 200 crore per annum for BEML, said DK Hota, managing director and chairman of the company.

The memorandum of understanding(MoU) with HEC gives BEML some rights for rope shovel instruments.

“HEC is also into the manufacturing of walking dragline and rope shovels ... this collaboration between HEC which has IPR rights of some of these machines, which we don’t have, is going to help us. Our marketing, our manufacturing, their IPR and together this would result in maybe Rs 200 crore of business additional per year for BEML,” said Hota.

Talking about business, he said, “The total order book looks over 6,700 and some orders have come, some orders have been executed, some orders are perhaps waiting some resolution of issues by the government. This year we are looking at 30 percent increase in topline. That is a number that we are committed to for the year end."
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