Earthmoving and heavy industrial equipment manufacturer Bharat Earth Movers (BEML) today signed a MoU with the Karnataka government at the Global Investors Meet here for establishing another manufacturing complex in the city.
Under the MoU, Karnataka has agreed to provide 25 acres of land to BEML in the notified Special Economic Zone near the Bangalore International Airport, Devanahalli, to establish a unit for design and manufacture of aircraft components, sub-assemblies and MRO activities related to Aerospace Applications.
The proposed manufacturing complex of BEML is expected to generate employment for about 250 personnel initially, besides providing ample business opportunities to local vendors with regard to procurement of raw materials and components, BEML said in a release here.
BEML has established a new aerospace division as a part of its product diversification and expansion initiative. The company is eyeing a sizable slice of the aero and defence-related offset business, which is expected to exceed $15 billion in the next 10 years.