Public Sector construction equipment company Bharat Earth Movers Ltd (BEML) has signed a 12-year long term agreement with Coal India Limited (CIL) for joint production of "Off the Road" (OTR) tyres.

The OTR tyres will be produced by Apollo Tyres and JK Tyres at a facility being created by the funding of CIL/BEML.

CIL will fund BEML up to Rs 200 crore for investing Rs 100 crore each in Apollo and JK Tyres (as a part of back to back funding for the tyre project).

Recently BEML has also entered into a MoU with National Aluminium Company (NALCO) to collaborate for the production of aluminium wagons for movement of ore for NALCO.