State-owned enterprises BEML and Power Finance Corporation (PFC) have signed an agreement to collaborate on financing and executing key infrastructure projects, focusing on defence, rail transport, and infrastructure development.
The Memorandum of Understanding (MoU) was signed by BEML’s Chairman and Managing Director, Shantanu Roy, and Parminder Chopra, CMD of PFC, in New Delhi, according to a statement from BEML. The MoU aims to enhance cooperation between BEML and PFC in delivering critical projects across defence, rail, and infrastructure sectors. This partnership aligns with India’s strategic goals of advancing its infrastructure and defence capabilities.
“This collaboration marks a major milestone in bolstering India’s defence and infrastructure sectors. Combining our experience in infrastructure and defence manufacturing with PFC’s financial capabilities will enable the delivery of transformative projects that strengthen India’s economy and security,” said Shantanu Roy.
The agreement also emphasizes promoting defence manufacturing, supporting India’s “AatmaNirbhar Bharat” initiative aimed at achieving self-reliance in defence production. PFC, an infrastructure finance company under the Ministry of Power, and BEML, operating under the Ministry of Defence, will focus on sectors such as construction, mining, rail, metro, and aerospace development.
BEML Limited (formerly Bharat Earth Movers Limited) is a leading public sector company in India, operating under the Ministry of Defence. Established in 1964, it plays a critical role in manufacturing a wide range of products that serve key sectors such as defense, aerospace, mining, and railways. The company produces heavy equipment like bulldozers, excavators, and dump trucks for mining, as well as metro coaches and rail coaches for the transportation sector.
In the defense segment, BEML manufactures military equipment, including armored vehicles, missile launchers, and other specialized machinery. With a strong focus on indigenous manufacturing and innovation, BEML supports India’s self-reliance goals and contributes significantly to the nation’s industrial growth. The company is also involved in modernizing its infrastructure and expanding its capabilities to meet the evolving demands of both domestic and global markets.
