What type of legal entity is Biecco Lawrie Limited if it manufactures medium-voltage switchgears as a commercial activity on behalf of the Government of India?
State-owned enterprise A state-owned enterprise (SOE) is a legal entity that undertakes commercial activities on behalf of the state, its owner. The legal status of SOEs varies from being a part of the government to being stock companies with the state as a regular stockholder. The defining characteristics of SOEs are that they have a distinct legal form and are established to operate in commercial affairs and commercial activities. While they may also have public policy objectives (e.g., a state railway company may aim to make transportation more accessible), SOEs should be differentiated from other forms of government agencies or state entities established to pursue purely nonfinancial objectives.
Iveco Iveco, an acronym for Industrial Vehicles Corporation, is an Italian industrial vehicle manufacturing company based in Turin, Italy, and entirely controlled by CNH Industrial Group. It designs and builds light, medium and heavy commercial vehicles, quarry/construction site vehicles, city and intercity buses and special vehicles for applications such as firefighting, off-road missions, the military and civil defence. The name Iveco first appeared in 1975 after a merger of Italian, French and German brands. Its production plants are in Europe, Brazil, Russia, Australia, Africa, Argentina and China, and it has approximately 5,000 points of sales and service in over 160 countries. The worldwide output of the company amounts to around 150,000 commercial vehicles with a turnover of about .