VS to open manufacturing complex at Kanjikode
BEML Ltd. has set a target of Rs.5,000 crore turnover in the financial year 2011-12, said BEML chairman and managing director V.R.S. Natarajan.
Addressing reporters here on Friday, Mr. Natarajan said the Mini-Ratna category-1 company under the Ministry of Defence would achieve turnover of Rs. 4,000 crore in the current financial year. It has set a target of Rs.10,000 crore in the financial year 2013-14 when the company celebrates its golden jubilee.
He said in 2009-10 the company had registered turnover of Rs. 3,545 crore and profit of Rs. 290 crore. It had already got an order estimated at Rs. 5,087 crore pending execution.
He said the fourth manufacturing complex of the company would be inaugurated by Chief Minister V.S. Achuthanandan at Kanjikode Kinfra Integrated Industrial area on Sunday. Union Defence Minister A.K. Antony will preside. Industries Minister Elamaram Karim and the Leader of the Opposition Oommen Chandy will be the guests of honour at the function, Mr. Natarajan said.
He said the first phase of the Kanjikode complex was set up at a cost of Rs. 260 crore. It has been built on 375 acres handed over to the company by the State government out of 1,000 acres promised. The construction was completed in 15 months. The second phase will be taken up after the remaining land is handed over to the company.
He said the State government had agreed to provide corridor land for rail connectivity to the BEML for its rail manufacturing facility, which will come up in the second phase.
He said the new complex of the BEML at Palakkad to be inaugurated on Sunday will be a dedicated centre for the manufacture of Defence equipment, including BEML TATRA vehicles of 6x6 and 8x8, high mobility off-road military vehicles, Mil Wagons, Floating PMS bridges, Sarvatra vehicles and super structure of Mil Wagon besides parts and accessories of rail and metro cars.
Rail coach assemblies such as bogie frames, side walls, end walls, LHB aggregates and other rail parts and spares will also be manufactured at Kanjikode.
Mr. Natarajan said the unit would provide direct employment for to 200 people now, which will be raised to 500 on completion of the second phase of expansion, and indirect employment to over 1,000 people.