Kerala gets fourth PSU under defence ministryJanuary 18th, 2009 - 7:08 pm ICT by IANS
Palakkad (Kerala), Jan 18 (IANS) Kerala Sunday got its fourth public sector unit (PSU) under the defence ministry for manufacturing military wagons and other items for the forces and railways.Chief Minister V.S. Achuthanandan Sunday laid the foundation stone of the BEML-Palakkad Manufacturing Complex here in the presence of Defence Minister A.K. Antony.
BEML Limited, formerly called Bharat Earth Movers Limited, is a mini-Ratna Category-I PSU, established in 1964.
Presiding over the function, Antony said that in politics there can be difference of opinion but when it comes to development issues all should stand united.
Achuthanandan said that in the past two years the central government has been considerate towards Kerala.
“Since there is a good investment climate prevailing in the state, we are getting more and more investments,” Achuthanandan said.
Rajesh Parida, a top official of BEML, told IANS: “This unit will be ready in 24 months and is coming up in an area of 400 acres of the 1000 acres promised by the state government. The total investment would be Rs.2.55 billion and 500 new jobs would be created”.
The unit will manufacture military wagons, floating bridges and other items for the military and railways.
Since Antony became the defence minister in 2005, he has sanctioned for the state new units of defence PSUs like the Brahmos Aero Space, HAL Bangalore and Bharat Electronics Limited (BEL).