India, Sept. 17 -- To expand its footprint in the Urban Transportation Sector as a part of its diversification initiatives, 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 SV Srinivasan, GM and Head (Transportation Business Group), BHEL and Niklaus H Koenig, President and CEO, SwissRapide AG.
Significantly, 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 coopera...