BEML has signed a memorandum of understanding (MoU), with Larsen & Toubro (L&T).

The MoU is to jointly capitalize on the emerging opportunities in the domestic and export markets, for defense products and systems and to leverage on Make in India initiative for increased value addition within the country in development/manufacturing and long-term support for defense and export business in identified areas/projects/programs, thus synergising their combined strengths.

Further, Deepak Kumar Hota, Chairman & Managing Director, BEML said, “PPP model is the way forward to meet the growing demands of the Defence Industry. With the vast experience and expertise in Defence Sector of BEML and L&T, I am confident that together we can address the needs of the Indian Defence Market as well as explore export markets of various Products/ systems of mutual interest.”