Navratna defence PSU Bharat Electronics Ltd (BEL) has signed a term sheet for setting up a joint venture with an Israeli firm, while it signed two memoranda of understanding (MoUs) with Israel Aerospace Industries Ltd and Israel-based Elisra, the company said in a statement here.
“The setting up of the JV will enable BEL to expand its portfolio to meet the growing demand of missile electronics,” chairman and managing director V V R Sastry said.
The JV will encourage indigenous advanced technology capabilities of missile electronics and guidance technologies with the country and enable Rafael to meet offset requirements by transferring technology and work share to the JV.
The MoU with Israel Aerospace Industries Ltd will facilitate joint working in the field of Unmanned Aerial Vehicle (UAVs) systems and BEL will undertake the product support function and manufacture and supply of designated sub-systems for the UAVs.
As for the MoU with Elisra, the PSU said the MoU envisages joint working for various airborne electronic warfare programmes and is expected to be of 12-year duration.