Jairam Ramesh takes dig at BJP for planning to sell off another ‘26% stake’ in BEML
The Congress leader's statements come amid reports that the BJP government will soon be inviting financial bids for sale of the defence PSU BEML.
Hitting out at the BJP government for planning to sell off another 26% stake in Bharat Earth Movers Limited (BEML), Congress general secretary Jairam Ramesh on Sunday said that the government is selling off the stakes as the company “has huge land assets in and around Bengaluru.”
“Govt currently owns 54% of Bengaluru-based BEML. Now the Modi govt is planning to sell of another 26% stake. This means that BEML is going to be a completely private company,” Jairam Ramesh said.
“Apart from its product line with an important strategic value, it has huge land assets in and around Bengaluru, which is the real reason it is being sold off!” he added.
The Congress leader's statement comes amid reports that the BJP government will soon be inviting financial bids for sale of the defence PSU BEML.
{{/usCountry}}The Congress leader's statement comes amid reports that the BJP government will soon be inviting financial bids for sale of the defence PSU BEML.
{{/usCountry}}“The listing of land and other non-core assets is complete. Now we will soon invite financial bids for the core assets, which is construction and defence related,” an official told PTI.
{{/usCountry}}“The listing of land and other non-core assets is complete. Now we will soon invite financial bids for the core assets, which is construction and defence related,” an official told PTI.
{{/usCountry}}In January 2021, the government invited preliminary bids for selling 26 per cent stake in BEML. It received multiple expressions of interest (EoIs) for the sale. Following that BEML demerged its non-core businesses into BEML Land Assets.
{{/usCountry}}In January 2021, the government invited preliminary bids for selling 26 per cent stake in BEML. It received multiple expressions of interest (EoIs) for the sale. Following that BEML demerged its non-core businesses into BEML Land Assets.
{{/usCountry}}The government, at present, holds 54.03 per cent stake in BEML. At the current market price, sale of the government's 26 per cent stake in BEML will fetch around ₹1,500 crore.
{{/usCountry}}The government, at present, holds 54.03 per cent stake in BEML. At the current market price, sale of the government's 26 per cent stake in BEML will fetch around ₹1,500 crore.
{{/usCountry}}The BEML currently offers its services and support to defence & aerospace, mining & construction, and rail & metro clients within and outside India.
(With PTI inputs)
