PFC and BEML Sign Agreement to Finance and Execute Infrastructure Projects in Defence and Rail Transportation

State-owned BEML and Power Finance Corporation (PFC) have entered into a strategic partnership to finance and execute critical infrastructure projects, with a focus on defence, rail transportation, and infrastructure development. The Memorandum of Understanding (MoU) was signed in New Delhi by BEML CMD Shantanu Roy and PFC CMD Parminder Chopra, according to a statement from BEML.

The collaboration aims to leverage BEML’s expertise in infrastructure development and defence production, alongside PFC’s financial capabilities, to drive transformative projects that will bolster India’s economy and security. "This partnership is a significant step towards supporting India’s infrastructure and defence sectors," Roy said.

In addition to rail and metro projects, the MoU underscores the importance of advancing defence manufacturing in line with the Indian government’s 'AatmaNirbhar Bharat' initiative, which seeks to achieve self-reliance in defence production.

PFC, under the Ministry of Power, is an infrastructure finance company, while BEML, under the Ministry of Defence, operates across three key verticals: construction and mining, rail and metro, and defence and aerospace.

HBL