Bharat Earth Movers Ltd (BEML) and Heavy Engineering Corporation (HEC) have signed pact for making mining equipment. The MoU will result into additional Rs 150-200 crore revenue for both PSUs.
It will reduce working capital and create capability for high capacity equipment. The mining products could be co-branded and will come under ‘Make in India’ initiative. Coal India is a major client for this mining equipment.
Source- The Moneycontrol