Public sector defence major Bharat Electronics (BEL) has reportedly entered into a Memorandum of Understanding (MoU) with Israel Aerospace Industries (IAI) to work together on the future of Long Range Surface to Air Missile (LR-SAM) ship defence system projects.
The LR-SAM is an over $500 million joint venture with Israel. This will help the Indian Navy to protect its warships from incoming enemy cruise missiles and fighter aircrafts.
Earlier in November, BEL entered into agreement for 10.5 MW project with Suzlon. The project is set to be commissioned in the Davangere district of Karnataka by end-FY13.
Bharat Electronics was set up at Bangalore by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company serving the needs of customers in diverse fields in India and abroad.
Company Name | CMP |
---|---|
BHEL | 246.15 |
Bharat Electronics | 255.55 |
Thermax | 5237.00 |
Kirloskar Oil Eng | 1200.00 |
Praj Industries | 515.50 |
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