Staff Reporter

Company sets target of Rs.5,000 crore in 2011-12

PALAKKAD: 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. He said the new complex of the BEML at Palakkad would be a dedicated centre for the manufacture of Defence equipment 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.