Larsen & Toubro Ltd. and Nexter Systems of France have signed consortium agreements to collaborate for key Artillery Gun programmes of the Indian Army.
These include the 155mm/52 Cal Towed Gun System (TGS) and Mounted Gun System (MGS) programme, with Nexter Systems as lead partner and a 130mm /39 CalM-46 up-gunning programme, with L&T as lead partner.
Under the agreement, Nexter will transfer the production of sub-assemblies of TRAJAN and CAESAR (MGS) and the final integration of both systems to L&T in India. The engineering customization of the systems to fulfill specific Indian requirements will be accomplished together by L&T and Nexter. L&T and Nexter are looking forward to extending the cooperation for these artillery programs for Indian MoD to other opportunities, globally.
L&T, in association with Nexter, will manufacture critical subsystems for the guns, integrate and support the guns for Indian Army.
Speaking on the occasion, L&T Heavy Engineering and Member of the Board M.V. Kotwal said, "L&T and Nexter Consortium will endeavour to provide a winning solution to the Indian Army/ Besides providing the most successful Artillery Gun Systems to the Indian Army, this partnership will open up new avenues in Indian and global defense markets for both partners."
During his visit to DefExpo 2012 (New Delhi), Nexter Chairman and CEO Philippe commented, "Our partnership with L&T is hugely important to Nexter. I am convinced that the depth of our mutual commitment will result in a strong overall value proposition to the Indian MoD."
At the BSE, Larsen & Toubro shares are currently trading at Rs.1,298.25, up 1.38 percent from the previous close.
by RTT Staff Writer
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