Bharat Dynamics rose 2.91% to Rs 382 after the company signed a licencing agreement with MBDA to establish a facility for the final assembly, integration, and test of advanced short-range air-to-air missile (ASRAAM) missiles in India.
MBDA is the only European defence group capable of designing and producing missiles and missile systems that correspond to the full range of current and future operational needs of the three-armed forces (land, sea and air). MBDA has a significant presence in five European countries and in the USA.
BDL and MBDA have signed a licencing agreement to establish the manufacturing facility in India. Under the agreement, MBDA will transfer the equipment and knowledge to Bharat Dynamics for establishing the facility. The facility is expected to commence operations by 2022-23.
Commodore Siddharth Mishra (Retd), CMD, BDL stated that signing of the licensing agreement reinforces the company's commitment to contribute towards 'Make in India' and the 'Atmanirbhar' initiatives of Government of India in the Defence sector. ASRAAM is one of the Within Visual Range missiles available and BDL will be manufacturing these at its Bhanur Unit for the domestic and export in future through MBDA
He added that the new facility will provide India with the ability to carry out final assembly, integration and test of ASRAAM missiles. BDL has been endeavoring to enter into tie-up with foreign OEMs (Original Equipment Manufacturers) in pursuit of its expansion programme.
Bharat Dynamics (BDL) is the only company in India involved in manufacturing various types of missiles and underwater weapons for supply to the Indian Armed Forces and friendly foreign countries. The company also handles launchers, test equipment, refurbishment / life extension of missiles and counter measures systems for domestic as well as international market.
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