Joint Venture8 May 2024, 12:27 am
Bharat Dynamics Ltd Announces Execution of Joint Venture Agreement for Defence Testing Infrastructure
AI Summary
Bharat Dynamics Ltd, in collaboration with Mishra Dhatu Nigam Limited, Hindustan Aeronautics Limited, Yantra India Limited, PTC Industries Limited, and Uttar Pradesh Expressways Industrial Development, has executed a joint venture agreement to incorporate a Section 8 Company under the Companies Act, 2013. The name of the new company will be ‘Advanced Materials (Defence) Testing Foundation’ or a similar name. The consortium, led by MIDHANI for the first venture and Bharat Electronics Limited for the second one, aims to develop, operate, and manage defence testing infrastructure for electronic warfare.
Key Highlights
- Bharat Dynamics Ltd enters into a joint venture agreement with five other companies
- The consortium, led by Mishra Dhatu Nigam Limited and Hindustan Aeronautics Limited, will incorporate a Section 8 Company
- The new company, ‘Advanced Materials (Defence) Testing Foundation’, will focus on the development, operation, and management of defence testing infrastructure for electronic warfare
- Bharat Electronics Limited leads the second joint venture