Construction may see degrowth of -6.5% in FY2021
Forecast for GDP growth now -6.4 per cent for FY2021: CARE Ratings. July 2020
Bharat Earth Movers Ltd (BEML) and Siemens India have signed an accord to jointly manufacture and market stainless steel coaches for suburban rail systems.
As per the agreement, BEML is likely to manufacture stainless steel electric multiple units (EMUs) whereas Siemens will manufacture the high-performance bogies and three-phase insulated gate bipolar transistor (IGBT) propulsion system, which it is already supplying to Indian Railways.
The two firms will jointly bid for purchase orders from Indian Railways and suburban train operators such as Mumbai Railway Vikas Corporation Ltd. With this agreement, BEML and Siemens will work together for metro propulsion towards maximising indigenisation and bringing down costs in respect of metro cars.