RITES Ltd., a leading Transport Infrastructure Consultancy and Engineering company, signed a memorandum of understanding (MoU) with BEML Limited to explore and jointly bid for opportunities in the fields of Metro systems and export of rolling stock.
- As part of the MoU, RITES will provide expertise in design, engineering, marketing and any other support that may be required for tapping domestic and overseas opportunities while BEML will be responsible for manufacturing of customised metro coaches and rolling stock.
- The MoU will allow both companies to leverage each other’s expertise and technologies to opitimise operations and expand on a global level.
- It would enable BEML and RITES to jointly bid and provide the entire spectrum of services from design, manufacture to operations & maintenance for the existing and upcoming Metro systems as well as export of rolling stock and related services.
- The collaboration will not only create a platform to enable exploration of business opportunities around the globe, but also facilitate knowledge sharing to strengthen respective organisations’ operations.
About RITES Limited:
- RITES Limited is a Miniratna (Category-I) Schedule ‘A’ Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach.
- The company has experience spanning 47 years and has undertaken projects in over 55 countries across Asia, Africa, Latin America.
- South America and the Middle East region.
- RITES Limited is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).
About BEML Limited:
- BEML Limited (formerly Bharat Earth Movers Limited) was established in May 1964 as a Public Sector Undertaking for manufacture of Rail Coaches & Spare Parts and Mining Equipment at its Bangalore Complex.
- The Company has partially disinvested and presently Government of India owns 54 percent of total equity and rest 46 percent is held by Public, Financial Institutions, Foreign Institutional Investors, Banks and Employees.
- BEML Limited, a ‘Schedule-A’ Company, plays a pivotal role and serves India’s core sectors like Defence, Rail, Power, Mining and Infrastructure.
- The Company operates under three major Business verticals viz., Mining & Construction, Defence and Rail & Metro.
- The three verticals are serviced by nine manufacturing units located at Bangalore, Kolar Gold Fields (KGF), Mysore, Palakkad and Subsidiary – Vignyan Industries Ltd, in Chikmagalur District.
Source: RITES-Press Release