Railway Minister Vaishnaw lays foundation stone of new hangar at BEML in Bengaluru

Bengaluru (Karnataka) [India], September 1 (ANI): Railway Minister Ashwini Vaishnaw laid the foundation stone of a new hangar for standard and broad gauge rolling stock manufacturing at BEML in Bengaluru on Sunday.
Vaishnaw also conducted an Inspection of Vande Sleeper Coach at BEML Main Building, Thippasandra, Bengaluru. He will also also interact with the media later in the day.
After the programme at BEML, Vaishnaw will interact with trainees and staff at the Multi-disciplinary Divisional Training Institute (MDDTI), Bengaluru (Railway Training Centre) at 2 pm on Sunday.
BEML Limited (formerly Bharat Earth Movers Limited) was established in May 1964 as a Public Sector Undertaking for the manufacture of Rail Coaches and Spare Parts and Mining Equipment at its Bangalore Complex. The Company is listed on both Exchanges (BSE & NSE) with Government of India owning 54.03% and rest 44.97% is held by Financial Institutions, Foreign Institutional Investors, Banks, the Public and Employees, according to the website of the company.
BEML Limited, a 'Schedule 'A' Company under the Ministry of Defence, Govt. India plays a pivotal role and serves India's core sectors like Defence, Rail, Power, Mining and Infrastructure, the company said.
"The Company started with a modest turnover of Rs. 5 Crs. during 1965 and today, thanks to its diverse business portfolio, the company has been able to achieve a turnover of more than Rs. 4,300 Crs," per the data on official website.
On August 21, BEML Ltd., the nation's leading defence and heavy engineering manufacturer, entered into a strategic Memorandum of Understanding (MoU) with the Directorate of Marine Engineering, Indian Navy.
According to BEML, the MoU was signed today at the Naval Headquarters in Delhi by Ajit Kumar Srivastav, Director of Defence at BEML, and Rear Admiral K Srinivas, ACOM (D&R) of the Indian Navy, in the presence of BEML's Chairman & Managing Director, Shantanu Roy, along with top Defence dignitaries.
This agreement marks a pivotal step in enhancing collaboration between BEML and the Indian Navy for the Indigenous Design, Development, Manufacture, Testing, and Product Support of critical marine equipment and systems.
The partnership is aligned with the Government of India's Aatmanirbhar Bharat initiative, which aims to strengthen self-reliance in defence production and minimize dependence on foreign imports. (ANI)