SOURCE: AFI
The Ministry of Corporate Affairs (MCA) has given its nod to the formation of “BEL IAI AeroSystems Private Limited,” a joint venture between Bharat Electronics Limited (BEL) and Israel Aerospace Industries Limited (IAI).
This new entity will be responsible for providing comprehensive product support, including repair and maintenance services, for the Medium-Range Surface to Air Missile (MRSAM) System deployed in India. BEL holds a 40% stake in the joint venture, while IAI owns the remaining 60%.
The establishment of BEL IAI AeroSystems Private Limited is expected to significantly enhance the operational readiness of the MRSAM system in India. By pooling their expertise and resources, BEL and IAI aim to provide efficient and timely support to the Indian Armed Forces.
The partnership between the two companies is also anticipated to drive technological advancements in the defense sector. By collaborating on research and development, BEL and IAI can explore new opportunities for innovation and growth.