Govt approves BEML's strategic disinvestment

The government has given in-principle approval for strategic disinvestment of defence public sector undertaking BEML Ltd.

Minister of State for Defence Shripad Naik said this while replying to a question in Lok Sabha.

He said the strategic disinvestment of BEML Ltd will be to the extent of 26 per cent out of the government shareholding of 54.03 per cent with transfer of management control to the strategic buyer.

BEML Ltd serves core sectors such as defence, rail, power, mining and infrastructure. The company operates under three major business verticals -- mining and construction, defence, and rail and metro.