Moneycontrol Be a Pro
Get App
you are here: HomeNewsBusiness
Last Updated : Jul 16, 2018 09:28 PM IST | Source: PTI

BEML, L&T sign MoU to explore opportunities in defence products

This memorandum of understanding (MoU) paves the way for public-private sector partnership between two industry leaders, Jayant D Patil, Whole-time Director (Defence) and Member of L&T board said.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

State-owned BEML Ltd and Larsen & Toubro entered into a pact to jointly capitalise on emerging opportunities in domestic and export markets for defence products and systems.

The cooperation between the two organisations is aimed to leverage on ‘Make in India' initiative for increased value addition within the country in manufacturing and long-term support for defence and export business in identified areas, thus synergising their combined strengths, the companies said in a statement.

"PPP (Public-private partnership) model is the way forward to meet the growing demands of the Defence Industry. With the vast experience and expertise in defence sector of BEML and L&T, I am confident that together we can address the needs of the Indian defence market as well as explore export markets of various products/ systems of mutual interest," BEML Chairman and Managing Director Deepak Kumar Hota said.

Close

This memorandum of understanding (MoU) paves the way for public-private sector partnership between two industry leaders, Jayant D Patil, Whole-time Director (Defence) and Member of L&T board said.

"By synergising capabilities of each other in system design and integration, manufacturing and marketing, the companies look forward to enhancing product range, evolve new products and improve business prospects," Patil added.

BEML and L&T have collaborated and partnered on co-development and production of significant sub-systems involving complex technologies and advanced engineering equipment such as Sarvatra Bridging Systems and various other vehicular platform-based systems for the defence ministry, the statement said.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jul 16, 2018 09:25 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant