BHEL inks MoU with SwissRapide AG to bring Maglev Trains to India
Published: Sep 17, 2020
By TIOLCORPLAWS News Service
NEW DELHI, SEPTEMBER 17, 2020: Bharat Heavy Electricals Limited (BHEL), has entered into a Memorandum of Understanding (MoU) with SwissRapide AG for Maglev Train projects in India. To this effect, an MoU was signed by Mr. S.V. Srinivasan, GM&Head (Transportation Business Group), BHEL and Mr. Niklaus H. Koenig, President and CEO, SwissRapide AG. The agreement has been signed in the backdrop of the Prime Minister's 'Make in India' and 'Atmanirbhar Bharat' initiatives, and will enable BHEL to bring the latest, world-class technology to India and manufacture state-of-the-art Maglev Trains indigenously. The MoU sets out the foundation to cooperate and explore mutually beneficial business opportunities, and to utilise both the companies' inherent capabilities, skills, knowledge and assets, with respect to the scope of Maglev Train projects in India.