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Bharat Dynamics wins Army contract to service IGLA Manpad

Source : Moneycontrol

Bharat Dynamics wins Army contract to service IGLA Manpad
An Indian Army soldier with Soviet-era Igla-1M MANPAD (File Photo)

Bharat Dynamics Limited (BDL) on December 2 said it had signed a Rs 471.41-crore contract with the Indian Army for the refurbishment of IGLA-1M missiles. The contract will run for 10 years, the defence PSU said in a regulatory filing. Apart from the refurbishment, BDL deals with manufacture and supply of guided missiles and associated equipment, underwater weapon systems, airborne weapon systems, ground support equipment and product life cycle support.

Previously, the firm had exported torpedoes to a “friendly foreign country” and received leads from several countries for its products. BDL said to export its ‘Made in India’ products to friendly foreign nations, it had taken up several steps to be a part of the global supply chain by entering into memoranda of understanding and agreements with foreign original equipment manufacturers.

BDL is also planning to set up a new unit at Jhansi in the UP Defence Corridor, which will be its sixth manufacturing unit and first in northern India.

At this unit, the company will make a propulsion system that will be used in all anti-tank guided missiles and futuristic missiles manufactured by the firm.

The stock closed 3 percent higher on the National Stock Exchange at Rs 426.80 following the deal announcement.

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