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.
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.
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