BEML Ltd., a mini-Ratna public sector company, said it has inked a memorandum of agreement or MoU with NFM Technologies, France, to manufacture tunnel boring machines in India. BEML will be the first company in India for the manufacturing of tunnel boring machines.
Both BEML and NFM will explore and exploit the opportunities for supplying the machines to various projects in India and Asean countries. The on-going Bangalore Metro and the upcoming metro projects of Chennai, Kolkota, Mumbai, etc., will provide a promising market for the tunnel boring machines manufactured by BEML. The machines will also be used in making canals for irrigation projects and hydroelectric projects, the company said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.