IAI expands JV with Kalyani Group
Executives from Israel Aerospace Industries (IAI) and Kalyani Strategic Systems Ltd. (KSSL), subsidiary of Bharat Forge Limited, have signed a Memorandum of Understanding (MOU) addressed to expand the Joint Venture that the companies are establishing. The new MOU covers the establishment of a maintenance centre for selected advanced air defence systems in Hyderabad. The two companies have also agreed on expanding their joint operations for development, manufacturing and marketing of precise ammunition systems. In February 2017, IAI had signed an MOU with Kalyani Strategic Systems Ltd. (KSSL) for 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.