In a significant step towards accelerating national infrastructure and defence capabilities, BEML LTD., one of India’s leading heavy equipment manufacturer (under the Ministry of Defence), and Power Finance Corporation Ltd, a Maharatna Company and one of India’s leading Non-Banking Financial Companies (NBFC) in the power sector, have entered into a strategic Memorandum of Understanding (MoU) today in New Delhi, which is aimed at intensifying cooperation in financing and executing critical infrastructure projects, particularly in the areas of defence, rail transportation and infrastructure development.
The MoU was signed in the presence of Shri Shantanu Roy, Chairman & Managing Director (CMD) of BEML LTD. Ltd, and Smt. Parminder Chopra, CMD of Power Finance Corporation Ltd. , in the presence of senior officials from both companies, including Shri Anil Jerath, Director (Finance) of BEML, and PFC representatives Shri Rajiv Ranjan Jha, Director (Projects), Shri Manoj Sharma, Director (Commercial), and Shri Sandeep Kumar, Director (Finance).
This partnership is expected to unlock new growth avenues for critical sectors that are crucial for nation-building, including Rail & Metro, Defence & Aerospace, and Mining & Construction. With BEML’s experience and expertise in these sectors, combined with PFC’s financial strength and extensive reach in project funding, the collaboration is poised to accelerate the development of key national infrastructure projects.
The MoU not only highlights the domestic significance of this partnership but also underscores both companies’ ambition to expand their operations internationally.
With BEML’s strong presence in sectors like metro rolling stock, mining, and defence equipment, & PFC’s financial clout, the two companies are well-placed to explore new opportunities in global markets, including Southeast Asia, the Middle East, and Africa.
