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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)
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