Bangalore: Bharat Earth Movers Limited (BEML), Asia's second largest manufacturer of earthmoving equipment, planned a quantum jump in its international business from the current level of Rs 115 crore to Rs 500 crore in the next two to three years, according to V R S Natarajan, who assumed charge as the chairman and managing director of the the public sector undertaking under the Ministry of Defence on December 2.

BEML is seeing an increase in demand for its products overseas, and keen on making its presence felt in developing countries, especially those in South East Asia, UAE and the Middle East, Natarajan told reporters.

For the current financial year (2002-03), BEML is aiming a sales turnover of Rs 1,675 crore, up from Rs 1,424 crore in the previous year, and is confident of achieving an annual growth rate of eight per cent throughout the 10th five year plan (2002-07), Natarajan added.

The defence accounted for 47 per cent of the company's business last year, and it's expected to exceed 50 per cent in the current financial year.

Natarajan said BEML, which mainly manufactures earth moving and defence equipment and rail coaches, would foray into infrastructure equipment sector soon in view of huge opportunities that it offered.

That includes sectors of road, power, including nuclear power, airports and ports. The company would also focus on disaster management equipment, used during floods, earthquakes and other calamities.

BEML has entered into an agreement with Rotem, Korea, for manufacture of 180 numbers of stainless steel metro coaches for Delhi Metro Railway Corporation (DMRC).

"This will enable BEML to go in for production of high velocity metro coaches not only to meet the requirements of DMRC but also other metro cities in India," Natarajan said.

PTI