IAI and Tata joint ven­ture

SP's MAI - - SPACE -

Itzhak Nis­san, IAI’s Pres­i­dent and CEO, and Ratan N. Tata, Chair­man Emer­i­tus of Tata Sons, have signed a mem­o­ran­dum of un­der­stand­ing (MoU) to es­tab­lish a joint ven­ture com­pany in In­dia. The new com­pany will de­velop, man­u­fac­ture and sup­port a wide range of de­fence and aerospace prod­ucts, in­clud­ing mis­siles, UAVs, radars, elec­tronic war­fare sys­tems and home­land se­cu­rity sys­tems. The MoU for the joint ven­ture was signed ear­lier.

The new JV com­pany will also per­form off­set work for IAI and other de­fence and aerospace pro­grammes in In­dia, and will es­tab­lish in­dige­nous ca­pa­bil­i­ties to sup­port IAI’s In­dian cus­tomers.

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