Lucknow: Bharat Heavy Electricals Limited (BHEL), a Maharatna PSU under the Ministry of Heavy Industries, has signed a memorandum of understanding (MoU) with joint-stock company 'Rosoboronexport', Russia during the 5th India-Russia Military Industrial Conference held in Lucknow recently. The 5th India-Russia Military Industrial Conference was held on the sidelines of the DefExpo-2020 in Lucknow. In the conference over 100 Russian and over 200 Indian industry leaders were participated.
The aim of the MoU is to cooperate and undertake joint projects and operations for Defence systems. This will help in leveraging BHEL's strength and capabilities in the Defence sector in association with Russian OEMs (original equipment manufacturer) under the 'Make in India' initiative and offer indigenous support and solutions to the Indian Defence Forces.
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Bharat Heavy Electricals Limited (BHEL) owned and founded by the government, is an engineering and manufacturing company based in New Delhi. Established in 1964, BHEL is India's largest power generation equipment manufacturer company.
Rosoboronexport is the sole state intermediary agency for Russia's exports and imports of defence-related and dual-use products, technologies and services. The Rosoboronexport Federal State Unitary Enterprise (FSUE) was set up in 2000 by a Decree of the President of Russia and is charged with the implementation of the policy of the state in the area of military-technical cooperation between Russia and foreign countries. In 2007, the enterprise was re-registered as Rosoboronexport open joint-stock company (OJSC). In 2011, Rostekhnologii non-profit state corporation acquired 100 percent of Rosoboronexport OJSC.