BEML enters MoU with Steel Authority of India
BEML Limited has entered into a Memorandum of Understanding with Steel Authority of India Limited (SAIL).
By PTI |
BANGALORE: BEML Limited, PSU and a leading player in Earth Moving and Mining Equipment has entered into a Memorandum of Understanding with Steel Authority of India Limited (SAIL), India's Largest Steel Producer for supply of Earth Moving Equipment and Spares.
As per the terms and scope of MoU, SAIL would purchase 261 Mining Equipment over a period of next three years. The various equipments envisaged under the agreement are dumpers, dozers, motor graders, high-end hydraulic excavators and tyre Handlers, a release said.
The estimated value of these equipments to be ordered in 3 years will be 477 crores. In addition, the agreement also provides for the maintenance Contract of the fleet of equipments to be supplied valuing to approximately 300 crores.
Both the PSUs have mutually agreed to work on a 11 years term during which, BEML shall supply Equipments upto 2011 to SAIL as well as undertaking Maintenance and Repair Contract for the next 8 years.
BEML has also signed a long term agreement for 12 years with Coal India Limited for joint production of "Off the Road (OTR) tyres to meet the requirement for production by BEML and after sale requirement by Coal India Ltd.
Recently BEML has also entered into a MoU with National Aluminum Company (NALCO) to collaborate for the production of aluminum wagons for movement of ore for NALCO.
As per the terms and scope of MoU, SAIL would purchase 261 Mining Equipment over a period of next three years. The various equipments envisaged under the agreement are dumpers, dozers, motor graders, high-end hydraulic excavators and tyre Handlers, a release said.
The estimated value of these equipments to be ordered in 3 years will be 477 crores. In addition, the agreement also provides for the maintenance Contract of the fleet of equipments to be supplied valuing to approximately 300 crores.
Both the PSUs have mutually agreed to work on a 11 years term during which, BEML shall supply Equipments upto 2011 to SAIL as well as undertaking Maintenance and Repair Contract for the next 8 years.
BEML has also signed a long term agreement for 12 years with Coal India Limited for joint production of "Off the Road (OTR) tyres to meet the requirement for production by BEML and after sale requirement by Coal India Ltd.
Recently BEML has also entered into a MoU with National Aluminum Company (NALCO) to collaborate for the production of aluminum wagons for movement of ore for NALCO.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
