New Delhi: State-owned Engineers India Limited (EIL) said in a regulatory filing on Monday that "it has signed a MoU with Munitions India Limited (MIL) for execution of plant modernisation and infrastructure projects of MIL."

The filing also said, "The MoU was exchanged between Mr Ravi Kant, CMD, MIL and Ms Vartika Shukla, CMD, EIL during Aero India at Bengaluru on February 13."

MoU heralds EIL's foray into defence sector

Additionally, the company said that the MoU heralds EIL's foray into defence sector giving a fillip to the diversification into newer areas. "This MoU is strategic in nature involving disclosure of sensitive defence related information. Hence, specific confirmation through email was obtained from MIL on February 17," it added.

(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.)