Israel Aerospace Industries (IAI) and Kalyani Strategic Systems Ltd. (KSSL) have signed a Memorandum of Understanding (MOU) to expand joint venture for establishing a maintenance center for selected advanced air defence systems in Hyderabad in the state of Telengana in India.
IAI and KSSL, the subsidiary of Bharat Forge Limited announced in a statement Thursday that the MoU is aimed at expanding the Joint Venture that the companies are establishing.
The two companies have also agreed on expanding their joint operations for development, manufacturing and marketing of precise ammunition systems.
In February 2017, IAI has signed an MOU with Kalyani Strategic Systems Ltd. (KSSL) on establishing a joint venture that will develop, build, market and manufacture selected Air Defence Systems and light weight special purpose munitions, in accordance with the Indian Government’s ‘Make in India’ policy.
Joseph Weiss, IAI's President and CEO said, that Indian government’s ‘Make in India’ initiative requires of international companies to rethink their operations in India. The changes in India have not gone unnoticed by IAI.
“We have been revamping all of our operations in India and believed that together with our partners in Kalyani Group we will preserve our position in India for both countries continued growth.”
Boaz Levi, Executive Vice President and General Manager of Systems, Missiles & Space Group said, "The MOU entered today is a strategic agreement for us."
"Combining the development capabilities and the vast knowhow accumulated in IAI in air defence and missiles with Kalyani’s advanced production and technological capabilities would help us offer the most advanced systems to India’s defence forces." Levi added.