BEML to bid for contract mining jointly with Indonesian firm

Barath Earth Movers (BEML) has inked an agreement with Indonesia’s Sumber Mitra Jaya (SMJ) to jointly bid for the upcoming contract mining businesses in India.

As per the deal, 30% of the investments will be made by BEML and 70% would be made by SMJ.

While BEML’s investment would comprise equipment, spares and services, SMJ will take care of planning and execution of contract mining.

BEML is also considering the possibility of establishing a company in Indonesia to improve the export prospects in association with SMJ.