In Hyderabad
Astra Microwave Products announced that the Company have signed a Term Sheet for formation of Joint Venture Company (JVC) with Rafael Advanced Defence Systems Israeli for joint production and supply of Tactical Radio Communication systems, Electronic war-fare systems and Signal intelligence systems.The JVC will operate from Hyderabad and is expected to start business development activities in the first half of 2016. About USD 20 million is expected to be invested in the first two years in the JVC. To start with ASTRA and Rafael will own 51:49 in the JVC and will become 50:50 subject to regulatory approvals.
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