Tata Power SED bags Rs 1,200 crore contract from Defence Ministry
Mumbai (Maharashtra) [India], Mar 22 (ANI): Tata Power Strategic Engineering Division (Tata Power SED) on Friday announced the signing of a Rs 1,200 crore deal with the Ministry of Defence for supply of 23 ship-borne 3D air surveillance radars to Indian Navy over the next 10 years.
ANI
Mar 22, 2019 12:31 IST
Mumbai (Maharashtra) [India], Mar 22 (ANI): Tata Power Strategic Engineering Division (Tata Power SED) on Friday announced the signing of a Rs 1,200 crore deal with the Ministry of Defence for supply of 23 ship-borne 3D air surveillance radars to Indian Navy over the next 10 years.
The contract was signed under the buy-and-make category of the Defence Procurement Procedure 2013. It will offer Indian Navy a proven solution with a production arrangement in India under transfer of technology. This will further substantive self-reliance for the country’s defence requirements.
The contract will be executed by Tata Power SED as the prime contractor with foreign original equipment manufacturer partner Indra Sistemas of Spain, the company informed stock exchanges in regulatory filings.
Significantly, Tata Advanced Systems Ltd has entered into a strategic partnership agreement with Tata Power for purchase of Tata Power SED, subject to regulatory and other approvals.
In November 2017, Tata Power SED had signed a contract with the Ministry of Defence for supply of portable diver detection sonars for Indian Naval applications. This contract was also part of Make in India initiative and the second contract under the Ministry of Defence procurement category buy-and-make category.
Tata Power SED partnered with DSIT Solutions Ltd in Israel for the delivery of PointShield portable diver detection sonar systems under a transfer of technology arrangement. It was one of the largest orders in the world market.
(ANI)
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