Friday, September 30, 2022

BEL inks MoU with TEL for growth in ammunition business

Must read

Bengaluru: Bharat Electronics Limited (BEL), a Navaratna PSU under the Ministry of Defence, has signed a memorandum of understanding (MoU) with Tamil Nadu Industrial Explosives Limited (TEL), a state-government undertaking of Tamil Nadu, last month on September 26. This MoU has been signed for co-operation in the explosives segment, where BEL is eyeing business growth, keeping in view its ongoing and upcoming ammunition programmes. This MoU was signed by BEL’s Director (Marketing) Anandi Ramalingam, and TEL’s CMD Kamaraj (IAS)  in the presence of Chief Minister of Tamil Nadu Edappadi K Palaniswami, and Tamil Nadu state Minister for Industries MC Sampath.

As per MoU  BEL will invest for the up-gradation of existing facilities and addition of new facilities, as well as setting up of a world-class centre of excellence for ammunition related technologies for both Defence and Aerospace requirements.

“The strategic partnership with TEL will also boost BEL’s business opportunities in the explosives segment,”- BEL

“The strategic partnership with TEL will also boost BEL’s business opportunities in the explosives segment,” the company said.

ALSO READ: BEL gets an order worth Rs 1,000 crore from Ministry of Defence

Bharat Electronics Limited

Bharat Electronics Limited (BEL) is an Indian state-owned aerospace and defence company with about nine factories and several regional offices in India. It is owned by the Indian Government and primarily manufactures advanced electronic products for the Indian Armed Forces. BEL is one of nine PSUs under the Ministry of Defence of India.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

- Advertisement -

More articles

- Advertisement -

Latest News