VENTURES AFRICA- As foreign investors continue to maximize the viable investment opportunities in Africa; Indian State-owned diversified manufacturing and engineering company, BEML, has made the move to stabilise its investments in Africa by opening its first office in Johannesburg, on Thursday.
BEML currently exports its products to about 13 African countries. However, it plans to use South Africa as a springboard into the rest of African countries in order to provide products for regional mining, construction, defence, as well as rail and metro markets.
“Johannesburg will be the hub of activities. The reason we chose Johannesburg is (its) connectivity.” BEML’s General Manager, International business division, Narayana Bhat affirmed.
The company produces a range of heavy machinery and equipment, including multipurpose vehicles, railway trains and coaches, mining shovels, dump trucks, bulldozers, pontoon bridges, military vehicles, hydraulic excavators and road-building equipment.
BEML International Business Division Assistant GM, Nagendra Kumar, who is responsible for the company’s Africa businesses said, the vision of the company is to become a market leader diversified company and emerge as an international player.
Indian High Commissioner to South Africa, Virendra Gupta, expressed delight at the establishment of the company at the opening function. “This is a very important event from our perspective, from a national perspective. We have a unique relationship between our two countries, built on this very strong foundation. There is a natural willingness to partner with South Africa. There are business opportunities created for India, there are business opportunities created for South Africa. These create wealth, these create jobs,” Gupta said.
South Africa and India are both among the BRICS economic group of nations.