Bharat Electronics approves JV with Safran for HAMMER weapon system
BEL and Safran have joined forces to create a joint venture called Project HAMMER, which will serve as a technology partner for producing, supplying, maintaining, and repairing guidance kits for weapons. The venture will have equal ownership and a board structure, with a focus on the HAMMER project. The initial share capital is Rs 1 lakh, but may increase as needed.