BEML Limited has informed the Exchange regarding ''.
BEML · price
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BEML Limited has informed exchanges that the Chhattisgarh government has approved allotment of 100 acres of land in Janjgir-Champa district to the company. The land is being given at a nominal rate of Re. 1 per acre. BEML plans to set up a state-of-the-art Heavy Earth Moving Equipment manufacturing plant on this land. The project is at an initial stage, with land allotment approved but the plant yet to be built.
This is a positive long-term development as BEML is expanding its manufacturing capacity for heavy earth moving equipment, which is a core business segment. The highly subsidized land cost (Re. 1 per acre) is favourable for the company, though actual capital expenditure on the plant and timing of commissioning will determine the real impact on future revenues and earnings.