Schedule a Call Back
BEML and Mazagon Dock Shipbuilders to develop advanced marine technology
Industry News- Dec 02,24
Under the agreement, Mazagon Dock will provide its facilities to BEML’s research team for the development, testing, and validation of innovative marine technologies.
State-owned BEML Ltd. (formerly Bharat Earth Movers Ltd.) has announced a strategic partnership with Mazagon Dock Shipbuilders Ltd. (MDL) to jointly develop cutting-edge technologies for the marine sector. This collaboration, formalised through a Memorandum of Understanding (MoU), underscores a shared commitment to advancing India’s maritime capabilities and supporting the nation’s self-reliance under the Atmanirbhar Bharat vision.
Under the agreement, Mazagon Dock will provide its facilities to BEML’s research team for the development, testing, and validation of innovative marine technologies. In return, BEML will offer technical expertise to design and manufacture strategic equipment tailored for marine applications.
Shantanu Roy, Chairman and Managing Director, BEML, highlighted the partnership’s significance, stating that it aims to reduce dependency on imports for defense-related needs while enhancing domestic manufacturing capabilities in the defense and maritime domains.
Both companies aim to deliver advanced solutions for the Indian Navy, Coast Guard, and other maritime sectors. Mazagon Dock specialises in constructing warships and submarines for the Indian Navy, as well as vessels for the Indian Coast Guard and commercial purposes. BEML operates under the Ministry of Defence and focuses on construction and mining, railway and metro, and defense and aerospace sectors.
The partnership aligns with India’s vision of strengthening its maritime infrastructure and fostering innovation to boost self-reliance and reduce reliance on foreign imports. Following the announcement, BEML’s shares rose by 4.24% to Rs 4,187.90, while Mazagon Dock’s shares surged 5.54% to Rs 4,467.45.
(Mint)
Related Stories
Policy Regulation
China+1 strategy: India's mixed gains
India’s strategic response to these challenges could determine the extent of its long-term gains from the evolving global supply chain realignments.
Read morePolicy Regulation
India among world's top 10 exporters of high-value products
The country continues to lead the world in exporting precious and semi-precious stones, with its global market share soaring from 2.64% in 2014 to 36.53% in 2023.
Read moreRelated Products
Troop Comforts revolutionises military gear with indigenous innovations
Aerospace & Defence
Troop Comforts Ltd (TCL), a state-owned defence corporation, has recently received a request for proposal (RFP) from the Northern Command of the Indian Army for its indigenously developed military gea Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
