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State-run BEML Ltd. on Thursday, April 9, said it has signed a memorandum of understanding (MoU) with Delhi Metro Rail Corporation Ltd. (DMRC) to jointly pursue opportunities in rail and metro projects in India and overseas.
The agreement will enable the two entities to identify, bid for and execute projects under a strategic partnership, the company said in an exchange filing.
The MoU, signed on April 8, is aimed at leveraging the combined expertise of BEML in manufacturing and DMRC in metro rail execution to expand their presence in the rail and urban mobility segment.
The partnership will cover opportunities across both domestic and international markets, as the companies look to tap into growing investments in metro and rail infrastructure.
BEML said the collaboration is part of its normal course of business and is expected to strengthen its position in the transportation and mobility space.
Last month, the company secured an overseas order to supply metro rolling stock for a project worth about ₹554 crore in the African region, marking its first-ever overseas order for metro rolling stock.
Shares of the company were trading 1.32% up at ₹1,606.90 as of 3.11 pm. The stock has declined by over 26% in the last six months, while delivering 7.5% returns in the past year.
The agreement will enable the two entities to identify, bid for and execute projects under a strategic partnership, the company said in an exchange filing.
The MoU, signed on April 8, is aimed at leveraging the combined expertise of BEML in manufacturing and DMRC in metro rail execution to expand their presence in the rail and urban mobility segment.
The partnership will cover opportunities across both domestic and international markets, as the companies look to tap into growing investments in metro and rail infrastructure.
BEML said the collaboration is part of its normal course of business and is expected to strengthen its position in the transportation and mobility space.
Last month, the company secured an overseas order to supply metro rolling stock for a project worth about ₹554 crore in the African region, marking its first-ever overseas order for metro rolling stock.
Shares of the company were trading 1.32% up at ₹1,606.90 as of 3.11 pm. The stock has declined by over 26% in the last six months, while delivering 7.5% returns in the past year.
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