| This is likely to be done through joint ventures with overseas partners or through acquisitions. |
| VRS Natarajan, chairman and managing director, announced this at the sidelines of the India Mining Summit here in Kolkata. |
| The company has already started its overseas journey through a joint venture in Brazil earlier this year. Its JV in Brazil was with CCC (Compagnie Comercio E Construcoes) for manufacturing and supply of rail wagons and bogies, as well as mining and construction equipment and spares. |
| Elaborating the company's overseas plans, he said that after Brazil, BEML has shortlisted Indonesia, North Africa and Australia for overseas expansion. |
| "We shall start with warehousing facilities there followed by manufacturing. We hope that something will materialise in 2007-08," he added. |
| BEML is in the process to appoint two international consultants for preparing the project report and due diligence for the Brazil project. |
| "We want to carry out financial and legal due diligence before starting operations there," he added. |
| The company expects the joint venture in Brazil to start production in the second quarter of 2007-08. |
| Commenting on domestic operations, he said that it is exploring the possibility of producing high end tyres jointly with Apollo Tyres and J K Tyre. |
| "Coal India and BEML have joined hands for the project. We shall invest close to Rs 200 crore for joint production of dumper tyres with these companies. This is because CIL and BEML are two major consumer of these tyres," he added. |
| The new tyre venture and metro coach manufacturing facility will be funded by the proposed public offer of the outfit. The company plans to come out with a public offer in March 2007. |
| The company would raise Rs 400 crore through the issue to fund its proposed capital expenditures. A part of the proceeds would be invested in a contract mining joint venture of BEML with an Indonesian outfit. |
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