MoU12 Jul 2025, 03:34 pm
Euro Asia Exports Ltd Signs Strategic MoU with CYGR for Drone Manufacturing JV
AI Summary
Euro Asia Exports Ltd, through its subsidiary RRP group, has signed a Memorandum of Understanding (MoU) with CYGR, a Franco-American drone technology company, to establish a Joint Venture (JV) focused on manufacturing advanced drone systems in India. The JV will be structured with RRP Defense Limited holding 90% and CYGR holding 10%. The venture will include a state-of-the-art drone manufacturing facility along with a dedicated R&D centre in Navi Mumbai. This collaboration aims to produce next-generation drone systems tailored for defence, surveillance, and strategic applications, with a strong focus on local manufacturing, technology transfer, and skill development.
Key Highlights
- Euro Asia Exports Ltd's subsidiary RRP group signs MoU with CYGR for drone manufacturing JV
- JV to focus on manufacturing advanced drone systems for defence, surveillance, and strategic applications
- JV structured with RRP Defense Limited holding 90% and CYGR holding 10%
- Includes a state-of-the-art drone manufacturing facility and a dedicated R&D centre in Navi Mumbai
- Strong focus on local manufacturing, technology transfer, and skill development