A deal has been signed by Tata Power Strategic Engineering Division (SED), with the Ministry of Defence to supply 23 ship-borne 3D Air Surveillance Radars to the Indian Navy over the next ten years.
A contract of Rs 12,000 Crore has been bagged by Tata Power SED from the Ministry of Defence for the radar supply.
The contract was signed under the Buy & Make (India) category of the Defence Procurement Procedure (DPP) 2013 that will be offering the Indian Navy a proven solution, with a production arrangement in India under Transfer of Technology (ToT).
The contract will be executed by Tata Power SED as the prime contractor with foreign OEM (Original Equipment Manufacturer) partner Indra Sistemas, Spain.
Tata Advanced Systems Ltd (TASL) has entered into a share purchase agreement with Tata Power to buy Tata Power SED, subject to regulatory and other approvals.