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Bharat Electronics Ltd (BEL), a defence public sector undertaking, and Thales, a global technology provider, have announced that the Ministry of Corporate Affairs has approved the incorporation of their joint venture company.
The joint venture (JV) company, BEL-Thales Systems Ltd, will focus on the design, development, marketing, supply and support of civilian and select defence radars for India and the global markets.
SK Sharma, Chairman and Managing Director, BEL, said: “We are confident that our venture company will benefit from the significant technology transfers and support from Thales, and from the extensive industrial and design skills of BEL.” The first board meeting of BEL-Thales Systems took place on September 26.
BEL holds a 74 per cent stake, while Thales holds 26 per cent of the equity in the venture company.
The initial product portfolio of BEL-Thales will comprise innovative solutions for air surveillance, including air traffic management radars, and select ground-based military radars.
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