BrahMos will set the takeover-process of Kerala PSU Keltec (Kerala Hitec Industries rolling this week. Chief of BrahMos and Chief Controller of Defence Research and Development Organisation (DRDO) A Sivathanu Pillai and T Balakrishnan, Principal Secretary (Industries), Kerala government will sign a deed document to this effect on Wednesday.
The Centre has cleared the proposed takeover of Keltec by BrahMos Aerospace for the design, manufacturing and integration of supersonic cruise missiles, a release from Kerala industry minister’s office has announced. The new entity will be renamed as BrahMos Aerospace (T) Ltd. BrahMos is a joint venture of government of India and Russian government with majority stake by Indian government through the DRDO.
The formal transfer of Keltec to BrahMos will take place by the beginning of 2008, at a state government-hosted function in the presence of Union defence minister AK Antony.
BrahMos, world’s fastest cruise missile ever developed (speed: 2.8 mach) will be manufactured and integrated at the facility created at Keltec. Apart from missile production, BrahMos plans to develop new generation launch vehicles for space applications for ISRO and continue to supply all critical components for DRDO and BARC.
BrahMos will invest Rs 100 crore and ISRO Rs 25 crore for upgrading the unit to state-of-the-art facilities.
BrahMos is also acquiring the adjacent land to KELTEC, now occupied by another agency of defence to expand its operations.The projected annual turnover of BrahMos in Kerala capital is Rs 500 crore within three years and Rs 1000 crore within a span of five years.
Thiruvananthapuram will be the second full-fledged production and integration centre of BrahMos Aerospace, state industry minister Elamaram Karim said.