BEML signs contract with Coal India for Rs 118 crore

In a boost to Prime Minister Narendra Modi's Atmanirbhar Bharat mission, BEML, a Defence PSU company, on Tuesday informed that it has signed a prestigious contract with Coal India for Rs 118 crore in the presence of Veera Reddy, Director (Tech), CIL, Kolkata.
 
"BEML signed the prestigious contract with Coal India Limited (CIL) on 18.04.2022 for supply of 01 number 20 CuM Rope Shovel valuing Rs 118 crore in the presence of Shri B Veera Reddy, Director (Tech), CIL, Kolkata. This being indigenously developed for the first time under Atmanirbhar Bharat by BEML’," the company said in a regulatory filing.

Meanwhile, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey had earlier said the current fiscal year (FY23) target would be met by a mix of minority stake sale in Central Public Sector Enterprises (CPSEs), listing of CPSEs and strategic sale.

''We have got multiple financial bids for Pawan Hans, we have to go further on that process. Shipping Corp, BEML and BPCL are in financial bids stage. HLL Lifecare and PDIL are in EoI stage. Besides, next fiscal we will go for listing of ECGC, WAPCOS and National Seeds Corporation and some minority stake sale, but there we might have less bandwidth,'' Pandey had told PTI.

Shares of BEML on Tuesday traded 1.15 per cent higher at Rs 1,905 apiece on BSE during late trade.

(With inputs from PTI)