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Bharat Electronics signs multiple MoUs for second day in a row

Bharat Electronics signs multiple MoUs for second day in a row

Bharat Electronics signs multiple MoUs for second day in a row
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By CNBCTV18.com Nov 18, 2022 2:28 PM IST (Published)

The MoU with AWEIL will help BEL to address requirements of air defence, artillery gun systems, medium caliber weapons, small arms and related systems in the domestic and export markets.

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State-owned defence enterprise Bharat Electronics Ltd. has signed multiple MoUs with companies for the second straight day.

It announced on Thursday that it has signed MoUs with two Central Public Sector Enterprises (CPSEs) - Armoured Vehicles Nigam Ltd. (AVNL) and Advanced Weapons and Equipment India Ltd. (AWEIL) to cater to the needs of Indian Defence and export markets.

BEL said that the MoUs are aimed at leveraging the complementary strengths and capabilities of the PSU and the other two companies to address domestic and export opportunities.

The defence PSU looks to explore opportunities for combat vehicles, main battle tanks, infantry fighting vehicles, armoured fighting vehicles and related systems after the deal signed with AVNL.

BEL said that the MoU with AWEIL will help address requirements of air defence, artillery gun systems, medium calibre weapons, small arms and related systems in the domestic and export markets.

AVNL and AWEIL are public sector undertakings under the Department of Defence Production, which have been carved out of the erstwhile Ordnance Factory Board.

Besides these two CPSEs, BEL in the past week has signed five MoUs with defence PSUs and private companies, including US-based Profense LLC. It signed MoUs with Spacefaring Technologies, defence PSU Hindustan Shipyard Limited, Yantra India Limited, SVC Tech Ventures and Profense LLC.

The MoUs are for exploring domestic and export opportunities in areas of ammunition hardware and military-grade components, light weapons and technology.

On Friday, the company announced that it has signed a LAToT with DRDO labs DRDL and IRDE for the manufacture of Laser-based End Game Fuze.
Laser-Based End Game Fuze is a sub-system of a missile, used to generate a detonation pulse at the detection of a target.
BEL will undertake the manufacturing of the Laser-based End Game Fuze at its Pune facility.

Shares of BEL are trading 3.6 percent lower at Rs 106.55.

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