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BEML, L&T to tap export market for defence products
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SME Times News Bureau | 17 Jul, 2018
State-run Bharat Earth Movers Ltd (BEML) and Indian multinational Larson
& Toubro Ltd (L&T) on Monday signed an agreement to jointly
explore export markets for defence products and systems.
"The
agreement is aimed at leveraging on the government's 'Make in India'
initiative to add value to developing and manufacturing defence products
and systems for export markets," said the city-based BEML in a
statement here.
The companies will also identify areas, projects and programmes for long-term support for defence and export business.
"The
Public-Private Partnership (PPP) model is the way forward to meet the
growing demands of the defence industry. With experience and expertise
in the defence sector, we will address the needs of the Indian market
and explore export markets for defence products and systems," said BEML
Chairman Deepak Kumar Hota.
BEML and L&T collaborated and
partnered on co-developing and producing sub-systems involving complex
technologies and advanced engineering equipment such as Sarvatra
bridging systems and other vehicular platform-based systems for the
Defence Ministry.
"The agreement paves the way for PPP between
two industry leaders. By synergising our capabilities in system design
and integration, manufacturing and marketing, we look forward to
enhancing product range, evolve new products and improve business
prospects," said L&T Director for Defence Jayant D. Patil in the
statement.
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