BEML may set up JV for making hi-end bogies

The rail and metro business group of BEML is looking for a joint venture (JV) partner from overseas to manufacture hi-end bogies to meet the growing demand.

The mini-ratna company may put up a greenfield facility for the proposed JV or can house it in any of its existing facilities in Bangalore, Kollar Gold Factory and Mysore.

"We are looking for an overseas JV partner to manufacture hi-end bogies in the country. In that JV, we will have majority stake and management control," BEML chairman and managing director V R S Natarajan told PTI from Bangalore.

Natarajan said BEML has already initiated talks with three to four overseas players. A concrete decision, however, will take three months.

The company intends to tie-up with the proposed partner to bring in technology to manufacture such hi-end bogies either for co-production or the JV. It is, however, willing to offer some stake to the partner, if it intends to pick up.

"We want to bring in technology from the partner in the JV. However, if it intends to pick up some stake in the JV, we are willing to give," Natarajan said.

Stating that the proposed JV could be housed in any of its facilities, Natarajan, however, did not rule out the possibility of putting up a greenfield plant for it.

"We are yet to decide whether the JV would be housed in a greenfield facility or in any of our three existing facilities. We are open to both as we have enough vacant land in all our facilities," Natarajan said.

"If it is a greenfield one, it can be located outside Karnataka, as well," he said.