New Delhi
State-owned BEML and Power Finance Corporation (PFC) have entered into a strategic Memorandum of Understanding (MoU) aimed at financing and executing critical infrastructure projects in defence, rail transportation, and other development sectors, BEML said in a statement on Saturday.
The agreement was formalized on Friday in the national capital by BEML CMD Shantanu Roy and PFC CMD Parminder Chopra. This partnership is poised to strengthen cooperation between the two organizations, combining BEML’s expertise in infrastructure and defence production with PFC’s financial capabilities.
Roy emphasized that this collaboration represents a significant advancement in supporting India’s infrastructure and defence sectors. The MoU will focus on key areas including rail and metro projects and aims to bolster defence manufacturing in line with the Indian government’s ‘AatmaNirbhar Bharat’ initiative, which seeks to promote self-reliance in defence production.
BEML, operating under the Ministry of Defence, is involved in construction, mining, rail, metro, and aerospace sectors, while PFC functions as an infrastructure finance company under the Ministry of Power.
