Bharat Forge and Punj Lloyd will be the only contenders for Indian Army’s US $2.6 billion (16,800 crore INR) anti-aircraft gun replacement contract, Economic Times reported Wednesday.
However Bharat Forge clarified on the news report as speculative and will inform stock exchanges about any update on price sensitive information.
"The news item is speculative in nature and there are neither updates nor official information received by the Company. As in the past, the company would continue to inform stock exchanges about any price sensitive information before the same is made public," Bharat Forge informed Bombay Stock Exchange after the exchange sought clarification.
“It might be the Kalyani group which is bidding for the contract, not its listed entity Bharat Forge,” Reuters quoted analysts as saying.
Reuters stated that Punj Lloyd has confirmed it was bidding for the contract. "Our focus has been on air defense and hence we have invested in manufacturing and partnerships," Ashok Wadhawan, President of Manufacturing, Punj Lloyd was quoted by Reuters.
The project involves manufacturing 1,102 air defense guns over the next 15 years to replace L70/ZU 23 as part of the 'Make in India' program. The manufacturer will have to supply the army with 428 guns over the next five years and also several lakh rounds of ammunition, the ET report said.
No State-run company, including the Ordnance Factory Board (OFB), is competing for the contract.
The two domestic companies were shortlisted after responses to a tender were received under the 'Buy and Make (Indian)' category earlier this year, ET quoted unnamed sources as saying.
The Indian Army and HCL has co-developed a software application, dubbed human resource management system (HRMS 2.0) designed to make various administrative functions integrated and web-enabled by being lodged in the servers of the unit level formations
The Defence Acquisition Council (DAC) of the ministry of defence has cleared the acquisition of 30 weapon locating radars – Swati – from Bharat Electronics Ltd (BEL) at a total cost of Rs 1,605 crores ($256 million). These radars will be used by the artillery wing of the Indian army
The Indian army will be getting the Akash "area defence" missile systems, which have an interception range of over 25 km in all weather conditions, from next month. "The fully-automated Akash system is designed to defend the country's vital and vulnerable areas against medium-range air targets penetrating from low, medium and high altitudes
The armys air defence (AAD) wing is undergoing a long awaited modernisation by acquiring six batterys of Aakash surface to air missiles (SAM) and modernizing older Russian origin SAMs. Defence Minister Manohar Parrikar is likely handed over the Akash missiles at a ceremony later this month
First time, Alloy Steel Plant has supplied special steel forgings for Indian Army's Pinaka rockets, The economic Times reported Monday. Steel Authority of India Limited (SAIL), the special steels manufacturing unit of Alloy Steels Plant has for the first time supplied special forgings to Field Gun Factory
Indias Punj Lloyd and its JV Partner Israel Weapon Industries (IWI), today has inaugurated the countrys first private-sector small arms manufacturing plant at Malanpur in Madhya Pradesh. The joint venture company, Punj Lloyd Raksha Systems (PLR) will be manufacturing small arms for the Indian Defence Forces and also for export, Israel Weapon Industries reported Thursday
Bharat Forge Limited and AM General LLC have announced today at DEFEXPO 2016 that they teaming to bid for India's Light Specialist Vehicle (LSV) program. AM General's battle-tested HMMWV is offered as the LSV's base platform -- with final build and production to take place in India
Bharat Forge Limited has set to invest US$74.8 Million in South Indian state of Telanganas booming defense and aerospace manufacturing sector
Indias Bharat Dynamics (BDL) has signed MoU with Electronics Corporation of India(ECIL) to co-develop missile electronics and weapon support systems. The collaboration will enable both the organisations to enhance business opportunities in the area of missiles and underwater weapon systems for upcoming defence programmes, the companies announced in a statement on Monday
The Indian Army has invited domestic and international tank design agencies to participate in a competition to develop the Future Ready Combat Vehicle (FRCV). A Request for Information (RFI) issued by Indian Army issued last week says that the design will be conducted in two stages with the winning entries eligible for a cash prize
The Indian Army has issued a Request for Information (RFI) to design and develop a new generation combat vehicle platform called the Future Ready Combat Vehicle (FRCV). The RFI issued last week is for the development of a base platform for the Main Battle Tank which is planned to replace the existing T-72 tanks in the Armored Corps
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