NATIONAL
Offsets rise past Rs. 8900 Cr
December 14, 2009
In a written reply in the Lok Sabha, Defence Minister Shri AK Antony informed that about 10 offset contracts have been signed so far under the provision of Defence Procurement Procedure (DPP). The companies with whom the offset contracts have been signed include Rosoboronexport Russia, RAC MiG Russia, Fincantieri Italy, Lockheed Martin USA, Boeing USA, Elta Israel, Israel Aerospace Industries Israel and Rafael Israel. The estimated value of the offsets involved in these contracts is over Rs. 8909 crores. Implementation of the offsets is expected to result in expanding and enhancing the manufacturing infrastructure and technical knowledge necessary for indigenous manufacture of weapon systems required by the Armed Forces. The benefits of offsets accrue to both Defence Public Sector Undertakings as well as to private Indian Industry engaged in the manufacture of defence systems and equipments. (Source: PIB; Dec 14)
India-Israel to joint develop LRSAM and MRSAM at the cost of Rs. 12,681 croes
December 14, 2009
Defence Research Development Organization (DRDO) and Israel Aerospace Industries (IAI) have undertaken two projects to jointly develop Long Range Surface-to-Air Missile (LRSAM) and Medium Range Surface to Air Missile (MRSAM) for India’s Navy and Air Force, respectively. Total cost of these projects is around Rs. 12, 681.02 crores, of which MRSAM accounts for Rs. 10,075 crores. The missiles being developed “are comparable in performance and cost to missiles available in their class in the world market” told Defence Minister, AK Antony.
Finance Ministry expresses concern over competitiveness of mid-air Refueller bid
December 14, 2009
The ministry of Finance (MoF) “has expressed certain reservations relating to the competitiveness of the bids and the reasonableness of the price” relating to six Flight Refueller Aircrafts that the MoD intends to procure for the Air Force and Navy. Four years ago the Defence Ministry had floated a tender to four global companies – Lockheed Martin, Boeing, EADS and Ilyushin – of which the later two had expressed interest. The procurement process was then initiated as per the provisions under the Defence Procurement Procedures 2006 (DPP 2006). The Finance Ministry’s reservation may now quash the process and a fresh bid is expected to be issued next year.
Mahindra buys majority stakes in two Australian aerospace companies
December 15, 2009
India’s Mahindra Group, a $6.6 billion industrial conglomerate, simultaneously acquired majority stakes in two Australian defence and aerospace companies, Aerostaff Australia and Gippsland Aeronautics. Aerostaff Australia is a component manufacture of high-precision close-tolerance aircraft components and assemblies for large aerospace companies. Gippsland Aeronautics is a manufactures of small segment turbo-prop aircrafts. The acquisition of the companies, valued Rs. 175 crores, will propel Mahindra to expand its interests in defence beyond the land based systems. Last month it has announced to set up a joint venture with UK’s largest defence company BAE Systems to manufacture land-based system
India-Israel to joint develop LRSAM and MRSAM at the cost of Rs. 12,681 croes
December 14, 2009
Defence Research Development Organization (DRDO) and Israel Aerospace Industries (IAI) have undertaken two projects to jointly develop Long Range Surface-to-Air Missile (LRSAM) and Medium Range Surface to Air Missile (MRSAM) for India’s Navy and Air Force, respectively. Total cost of these projects is around Rs. 12, 681.02 crores, of which MRSAM accounts for Rs. 10,075 crores. The missiles being developed “are comparable in performance and cost to missiles available in their class in the world market” told Defence Minister, AK Antony.
Finance Ministry expresses concern over competitiveness of mid-air Refueller bid
December 14, 2009
The ministry of Finance (MoF) “has expressed certain reservations relating to the competitiveness of the bids and the reasonableness of the price” relating to six Flight Refueller Aircrafts that the MoD intends to procure for the Air Force and Navy. Four years ago the Defence Ministry had floated a tender to four global companies – Lockheed Martin, Boeing, EADS and Ilyushin – of which the later two had expressed interest. The procurement process was then initiated as per the provisions under the Defence Procurement Procedures 2006 (DPP 2006). The Finance Ministry’s reservation may now quash the process and a fresh bid is expected to be issued next year.
Mahindra buys majority stakes in two Australian aerospace companies
December 15, 2009
India’s Mahindra Group, a $6.6 billion industrial conglomerate, simultaneously acquired majority stakes in two Australian defence and aerospace companies, Aerostaff Australia and Gippsland Aeronautics. Aerostaff Australia is a component manufacture of high-precision close-tolerance aircraft components and assemblies for large aerospace companies. Gippsland Aeronautics is a manufactures of small segment turbo-prop aircrafts. The acquisition of the companies, valued Rs. 175 crores, will propel Mahindra to expand its interests in defence beyond the land based systems. Last month it has announced to set up a joint venture with UK’s largest defence company BAE Systems to manufacture land-based system
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