JSW Defence signs MoU with Telangana for Rs 800 crore UAV manufacturing plant 
Defence Watch

JSW Defence signs MoU with Telangana for Rs 800 crore UAV manufacturing plant

JSW Defence has signed an agreement with the Telangana government to set up a facility in the state for manufacturing Unmanned Aerial Systems

PTI

New Delhi: JSW Defence has signed an agreement with the Telangana government to set up a facility in the state for manufacturing Unmanned Aerial Systems.

JSW UAV, a wholly-owned subsidiary of the company, would invest Rs 800 crore to set up the unit in Telangana through a technology arrangement with a leading US-based defence technology company, JSW Defence said in a statement.

PSU Watch is now on Whatsapp Channels. Click here to join

The MoU was signed in the presence of Telegana Chief Minister Revant Reddy and Parth Jindal of JSW Group on the sidelines of the World Economic Forum (WEF) here.

"The MoU underscores our unwavering commitment to playing a key role in indigenizing defence technology in India," Jindal said.

Reddy said Hyderabad, and Telangana have been long positioned in the global market as software and pharma leader.

"With clear vision and diligent efforts, we are now establishing Telangana as a clear leader for investments in manufacturing across sectors, ranging from semiconductor, defence, private space to FMCG," he said.

JSW Defence, a part of the USD 24 billion JSW Group, has a strategic partnership with Shield AI, Inc, a leading US defence technology company, to indigenize and manufacture Shield AI's 'V-BAT', a Group 3 Unmanned Aerial System (UAS), the statement said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

ACC approves extension of additional charge as CMD of MTNL to A Robert J Ravi

NTPC Green Energy signs MoU with BSPGCL for renewable energy and battery storage projects

N.B.S. Rajput (IAS) appointed as Principal Secretary of Public Enterprises Department, Odisha

BPCL weighs legal options as Rs 1-crore environmental fine lingers for over a year

Free trade pact opens up $122 bn British Govt's procurement market for Indian compaines: Commerce Secretary