New Delhi: Defence PSU BEML Limited on Saturday said that it has entered in to an MoU with Power Finance Corporation (PFC) Limited. According to the company, this MoU is aimed at intensifying cooperation in financing and executing critical infrastructure projects, particularly in the areas of defence, rail transportation and infrastructure development.

The MoU has been signed in the presence of BEML's Chairman & Managing Director (CMD) Shantanu Roy and PFC CMD Parminder Chopra. Other senior officials from both companies, including BEML's Director (Finance) Anil Jerath, PFC's Director (Projects) Rajiv Ranjan Jha, PFC's Director (Commercial) Manoj Sharma and PFC Director (Finance) Sandeep Kumar were also present.

Speaking at the signing event, BEML CMD emphasized the importance of this MoU, stating, "This partnership between BEML and PFC is a significant step forward in supporting India's infrastructure and defence sectors. The synergy between our expertise in infrastructure development and defence production, combined with PFC’s financial strength, will help deliver transformative projects that will have a lasting impact on India's economy and security landscape. We are committed to pursuing large-scale projects both in the domestic and international markets, and this MoU will be instrumental in achieving those goals."

This partnership is expected to unlock new growth avenues for critical sectors that are crucial for nation-building, including Rail & Metro, Defence & Aerospace, and Mining & Construction. With BEML’s experience and expertise in these sectors, combined with PFC’s financial strength and extensive reach in project funding, the collaboration is poised to accelerate the development of key national infrastructure projects.

In addition to rail and metro projects, the MoU places a strong emphasis on advancing defence manufacturing in line with the Indian government’s ‘Aatmanirbhar Bharat’ vision, which focuses on achieving self-reliance in defence production. BEML, a frontrunner in the design and manufacturing of modern rail infrastructure, will benefit from PFC's robust financial backing to implement large-scale projects that enhance national security capabilities.

(With Inputs From Agencies)