Mumbai: On Friday, Tata Power Strategic Engineering Division announced the signing of an important deal with the Ministry of Defence, for supply of 23 ship-borne 3D Air Surveillance Radars to the Navy for a stipulated period of 10 years.
The contract has been estimated at about Rs 1,200 crore. The contract has been signed under the Buy & Make (India) category of the Defence Procurement Procedure (DPP) 2013 that will be offering the Navy a proven solution regarding production arrangement in the country under Transfer of Technology (ToT) and thereby furthering substantive self-reliance for India's defence requirements, said Tata power in a filing with Bombay Stock Exchange.
Also Read: PNB Scam: Fugitive Nirav Modi arrested in London, to be presented in court today
The contract will be executed by Tata Power SED as the prime contractor along with the foreign Original Equipment Manufacturer partner Indra Sistemas from Spain. Subject to regulatory and other approvals, Tata Advanced Systems Ltd. has entered into a Sale and Purchase Agreement with Tata Power for purchase of Tata Power SED.
Tata Power SED had in November 2017 signed a contract with the Ministry of Defence for the supply of Portable Diver Detection Sonar (PDDS) for Indian Naval applications. A part of "Make in India" initiative, it was the second contract under the MoD procurement category "Buy and Make (India)". Tata Power SED had paired up with DSIT Solutions Limited, a company from Israel, for the delivery of PDDS Systems under a Transfer of Title arrangement for DSIT's PointShie-PDDS. This was the largest orders in the world market in connection to Diver Detection Sonar.