L&T, European firm set up JV for missile systems

IANS
Tuesday, February 14, 2017

Engineering conglomerate Larsen and Toubro and European missile major MBDA on Monday announced the setting up of a joint venture to develop and manufacture missiles in India to meet the country's defence requirements.

The JV, L&T MBDA Missile Systems Ltd, is expected to be incorporated in the first half of 2017 after necessary approvals.

The joint venture -- in which L&T holds 51 per cent share and the MBDA the remaining 49 per cent -- will begin with the development of fifth generation Anti-Tank Guided missile, missiles for the coastal batteries and high-speed target drones.

Speaking on the occasion, Antoine Bouvier, Chief Executive Officer, MBDA, said: "Our business strategy in India has always focused on entering into a partnership at the deepest level, not just with the armed forces but also with the Indian industry."

"The settings up of this JV is a natural progression of our partnership strategy. With L&T, I am convinced, we have found the ideal Indian partner," Bouvier said.

"We have been trusted partners to the Defence Research and Development Organisation and the Indian Navy, delivering complete weapons systems and platforms, command control and sensor systems, designed, developed and manufactured in India for over three decades," said A.M. Naik, Group Executive Chairman of L&T.

"Over this period, we have worked closely with the Defence Ministry and its different arms in jointly developing and delivering cutting-edge defence solutions," Naik added.

L&T and MBDA have been working together on the offset programmes for last six year, said Naik.

"When I said by 2021, defence will be very important part of L&T portfolio, I had in mind around Rs 10,000 crore per year as our target. We think we are well on our way," Naik said.

L&T expects to secure an artillery gun order from the Indian army in a month's time.

MBDA has been one of the major missile vendors for India and part of aircraft deals, including that recently inked for 36 Rafale aircraft, and Mirage 2000 upgrade programme.

"This has been us involved in the transfer of technology and the production of products and components with the state-owned DPSUs (Defence Public Sector Undertakings) and also with the establishment of very close partnerships with the Indian private sector including large companies and SMEs."


Express your comment on this article

Submit your comments...
     
Disclaimer: The views expressed here are strictly personal and IndiansinKuwait.com does not hold any responsibility on them. We shall endeavour to upload/publish as many of the comments that are submitted as possible within a reasonable span of time, but we do not guarantee that all comments that are submitted will be uploaded/published. Messages that harass, abuse or threaten other members; have obscene, unlawful, defamatory, libellous, hateful, or otherwise objectionable content; or have spam, commercial or advertising content or links are liable to be removed by the editors. We also reserve the right to edit the comments that do get published. Please do not post any private information unless you want it to be available publicly.
Image

Creating History in Quality Construction, Dr. Abdul Razzak Rumane

Dr. Abdul Razzak Rumane, a Registered Senior Consultant (RSC) with The Chartered Quality Institute

Image

We chose happiness and compassion; we chose life

It is a widely accepted fact that the ultimate aim of anyone in this world is to attain the state o

Image

Just Imagine

I had the flu. I had never felt so alone. I missed my family. Shivering, I huddled deeper inside th

Image

A Satvik Restaurant in Kuwait

“A recipe has no Soul; You as the Cook must bring soul to the recipe” -Thomas Keller Yes, you ha

Image

Together we grew…We share the values…

A lady brimming with positive vibrations, she spreads love, joy and a passion for life around her.

Image

Redefining Lifestyles…… the Indian Way

There could not have been a name more apt than Harmony House, for the place that it is. Rabindr

Image

Open letter to class XII students Some tips on how to live a successful life By Dr. Anis Ahmad

My Dear Students, You are at the threshold of a new beginning. You are going to be an adult. S

Image

Chatting with Chaitali

Chaitali B Roy is the author of ‘Women of Kuwait : Turning Tides’ (Har- Anand Publications) . She i

Image

Good film is a truthful representation of its time, says veteran actor Naseeruddin Shah

The state of Bollywood films is the same where it was started, said Veteran actor Naseeruddin Shah

Image

Childnology

Another year has come and gone, but in the tech world, it means lot more major innovations are on t

Image

Experience Indian Corner Tandoori Nights at Al Manshar Rotana Hotel

Al Manshar Rotana Hotel at Fahaheel, Kuwait launched an authentic Tandoori Night with an Indian cor

Image

Biryani & Kebabi restaurant opened at Arabia Mall in Egila

Biryani & Kebabi is the newest addition to Al Sabah & Kohli food and beverage brands. Al Sabah & Ko

Image

Indulge in the luxury of Indian dinner every Tuesday at Jumeirah’s Garden Café

We all love luxury. We have many occasions to celebrate life luxuriously. Be it our anniversary, bi

Image

A delightful treat to our taste buds- Samrat Restaurant Weekend Buffet.

Delicious Food.. Good Company with Family or friends ... That’s what all look for on a weekend. B

Image

Kuwait Cricket announce 25 Probables for ICC World Cricket League Division 5 Qualifier

Kuwait Cricket Board is pleased to announce the 25 Probables for the all important ICC World Cricke

Image

IGC’s 3rd Annual Volley Ball Tournament – 2017

Promoting Unity and Goodwill, Islamic Guidance Center (IGC) Kuwait organized successfully its 3rd

Image

KCWA Cricket Cup 2017

Kuwait Canara Welfare Association (KCWA) held Cricket Cup 2017 on Friday, 3rd March at Boulevard Pa

Image

Aneef & Bastian lifts professional doubles crown in the 6th IBAK- Pizzahut Master’s Cup – 2017

Ilayaraja claims singles title The 6th IBAK – Pizzahut Master’s cup was held on the 23rd and 24

Image

MAK Champions Trophy 2017 – Volley Ball & Throw Ball Tournament

MOGAVEERS ASSOCIATION KUWAIT, the community welfare association of nonresident Mogaveers, based in