BEML Limited has won a contract to provide 400 high mobility vehicles to the Indian Army.
"BEML bags order for 400 high mobility vehicles from MoD. Will play a key role in logistics management of the Indian Army. BEML for ‘Atmanirbhar Bharat'!" the company posted on its official Twitter account.
In a regulatory filing BEML said," These High Mobility vehicles would play a key role in the logistics management of the Indian Army leveraging on its exceptional cross country capabilities."
The contract is worth over INR 750 crore ($102.5 million). These vehicles would enable armoured fighting vehicles,troops, ammunitions and stores to be moved to far-flung, difficult terrains in operational areas.
The equipment will be manufactured at BEML's Palakkad Plant in Kerala and be supplied to Indian Army in a span of one year.
The government on Sunday invited preliminary bids for strategic sale of 26% stake along with transfer of management control in defence PSU BEML.
"Govt has issued the PIM/EOI for disinvestment of 26% equity share capital of BEML Ltd along with transfer of management control. Disinvestment will be through a two stage competitive bidding process," DIPAM Secretary Tuhin Kanta Pandey tweeted.
Bidders can submit their Expression of Interest (EoI) for buying the stake in BEML by March 1, as per the Preliminary Information Memorandum (PIM) issued by the Department of Investment and Public Asset Management (DIPAM).