PSU Bharat Earth Movers Limited (BEML) has secured an order of 12 additional trains of six cars each from Delhi Metro Rail Corporation to operate on 2B and 7 line of Mumbai metro project. The order procured from DMRC is worth Rs 501 crore, as per the regulatory filing.
The filing also informed that with this deal the total contract value has jumped to around Rs 4,318 crores from the previous value of Rs 3,817 crore. The Bengaluru-based PSU is required to supply the order before August of next year.
The latest development impacted BEML’s shares on Monday as its price rising over 2 per cent in the morning. The PSU has managed to indigenize over 90 per cent mainstream mining and construction products and rail coaches, 80 per cent of high mobility vehicles and 65 per cent of Metro cars segment.
Also Read | National and international companies in fray for Mumbai Monorail rake bid
Earlier in September, Mumbai Metropolitan Region Development Authority (MMRDA) struck a deal with BEML for its metro masterplan. A set of six coaches was also scheduled by the PSU to be delivered by December and 12 cars in January 2021.
MMRDA had also revised its deadline for Metro 2A and Metro-7 by six months due to the coronavirus-induced lockdown delays. These lines were supposed to be operational by December.
{{/usCountry}}MMRDA had also revised its deadline for Metro 2A and Metro-7 by six months due to the coronavirus-induced lockdown delays. These lines were supposed to be operational by December.
{{/usCountry}}