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BEML disinvestment will accelerate, DIPAM and NITI Aayog approves demerger

The government is moving fast towards the strategic disinvestment of BEML.

BEML disinvestment will accelerate DIPAM and NITI Aayog approves demerger

BEML (BEML) strategic disinvestment and the government is moving fast. Taking this disinvestment process forward, DIPAM and NITI Aayog have approved the demerger related to BEML. Under which the company’s surplus land and assets will be demerged in the new subsidiary.

A look at BEML’s land bank

Take a look at the land bank of BEML, it has an operational land bank of 1213 acres. At the same time, 1733 acres of land is such which is lying unused. In this way the company has a total land bank of 2945 acres.

Looking at the breakup of land bank of BEML, Bangalore Complex has 222 acres of land while EM Division has 1757 acres of land. Whereas Mysore Complex has 560 acres of land while Palakkad Complex has 374 acres of land. Apart from this, the company has 32 acres of land in other places as well.

BEML had said on Saturday that DIPAM and NITI Aayog have approved the proposal to form a wholly owned subsidiary to demerge the company’s surplus land and assets. This is a part of the process of strategic disinvestment of BEML.

It is worth noting that BEML was earlier known as Bharat Earth Mover. It was established in 1964 as a government company which manufactures railway coaches and mining parts and machinery at its Bangalore complex.

The government has already sold some of its stake in the company. At present, the government’s stake in the company is 54 per cent. The remaining 46 per cent is held by the public, financial institutions, foreign institutional investors, banks and employees of the company. BEML provides its services to the core sectors of the country such as defence, rail, power, mining and infrastructure.

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