Larsen & Toubro has tied up with MBDA to develop missile systems through a joint venture company termed – L&T MBDA Missile Systems Ltd – stated a release.
MBDA is held jointly by Airbus, BAE Systems and Leonardo, and has over 90 armed forces in its customer base.
L&T MBDA, in which L&T will have a 51 per cent stake, is expected to be incorporated in the first half of 2017.
The company will look to develop and supply fifth generation anti-tank guided missiles for coastal batteries and high-speed target drones. It will operate from a dedicated work centre, which will include pyrotechnical integration and final checkout facilities. Further details on the centre regarding its location etc, are not yet available. The joint venture will focus on business opportunities in the missiles and missiles systems domain and target opportunities under the Buy (Indian-India Designed Developed Manufactured), Buy (India) and Buy and Make (India) categories of defence procurement, the release added. According to Bloomberg, the Indian company has emerged as one of the key local suppliers for the defence forces in recent years.
It is close to winning a $660-million deal for mobile heavy artillery weapons, for which it has partnered with South Korea’s Hanwha Techwin.
Price negotiations for the 155-mm 52-calibre K9 artillery gun – modified for the Army’s requirement for a highly mobile, long-range deep fire support weapon with a higher rate of fire – have been concluded and the deal will be signed once the Cabinet approves the deal, added Bloomberg.