BEML signs JV to enter mining operations

Second largest manufacturer of earthmoving equipment in Asia, Bharat Earth Movers Ltd (BEML) has entered into a joint venture agreement with Hyderabad-based Midwest Limited and Sumbermitra Jaya of Indonesia to enter into mining sector.

The joint venture, named BEML Midwest Limited, would provide total mining solutions, right from mine development to mine management and maintenance.

BEML was keen to tap the potential available in mining operations, a company spokesman said in a statement.

Public sector undertaking, BEML Limited is a premier ISO 9001-2000 Company in India. The company commands 70% market share in domestic earthmover industry. Nearly 40% of its equity has been divested to financial institutions and public.

BEML has vital applications in diverse sectors of economy such as coal, mining, steel, cement, power, irrigation, construction, road building and railway. The company has expanded its product range to cover high-quality hydraulics, heavy-duty diesel engines, Welding robots and undertaking of heavy fabrication jobs.

With a present turnover of Rs 2,600 crore, BEML is expecting to clock in revenue of Rs 5,000 crore by 2013-14. The PSU is also planning to join hands with Coal India for entering into an agreement with a tyre company for manufacturing tyres for its equipment.