BEML Signs MoU with DMRC led SPV for Bahrain Metro

BEML Limited, a leading manufacturer of indigenous Metro Rolling Stock in India and a schedule 'A' company under Ministry of Defence, has signed a Memorandum of Understanding (MoU) on 20.02.2023 with Delhi Metro Rail Corporation (DMRC) led SPV, who have been shortlisted for constructing the Bahrain Metro Rail Project Phase-1.

As a part of this MoU, BEML will be responsible for manufacturing and supply of Metro Rolling Stock and DMRC will provide expertise in the fields of project development, budgeting and facilitating of contractual obligations.

The MoU will allow BEML to leverage its manufacturing expertise and technologies to optimize business operations for urban transportation Metro Rolling Stock and expand on a global level.

BEML Limited (formerly Bharat Earth Movers Limited) operates under three major Business verticals viz., Defence & Aerospace, Mining & Construction, and Rail & Metro. The three verticals are serviced by nine manufacturing units located at Bangalore, Kolar Gold Fields (KGF), Mysore and Palakkad.

Shares of BEML Limited was last trading in BSE at Rs. 1404.00 as compared to the previous close of Rs. 1429.55. The total number of shares traded during the day was 3021 in over 777 trades.

The stock hit an intraday high of Rs. 1441.00 and intraday low of 1389.90. The net turnover during the day was Rs. 4248225.00.

Source : Equity Bulls

Keywords

BEML INE258A01016 MoU DMRC SPV BahrainMetroRailProject Phase1