Business News

Tata Power SED secures $173.6 Million (Rs.1200 Crore) deal from Ministry of Defence, India

The deal will be accomplished by Tata Power SED as the main contractor with Spain’s foreign Original Equipment Manufacturer (OEM) partner Indra Sistemas.

TFMNews

Tata Power Strategic Engineering Division today reported that it has signed $173.6 Million (Rs.1200 Crore) deal with Defence Ministry of India, to supply 23 ship-borne 3D Air Surveillance Radars to the Indian Navy over the next 10 years.

The deal was signed under the Buy and Make (India) category of the Defence Procurement Procedure (DPP) 2013 which will be offering the Indian Navy a demonstrated solution with a production procedure India under Transfer of Technology (ToT).

The deal will be accomplished by Tata Power SED as the main contractor with Spain’s foreign Original Equipment Manufacturer (OEM) partner Indra Sistemas. And Tata Advanced Systems Ltd. (TASL) has entered into and sales and purchase agreement (SPA) with Tata Power for acquisition of Tata Power SED, subject to regulatory and other approvals.

Last year in November 2017, Tata Power SED had signed a agreement with Ministry of Defence for the supply of Portable Diver Detection Sonar (PDDS) for Indian Naval applications. This deal was also part of “Make in India” initiative and another deal was under the MoD procurement category “Buy and Make (India)” signed by Ministry of Defence.

To deliver PDDS systems, Tata Power SED joined with Israel’s DSIT Solutions Limited under a ToT arrangement for DSIT’s PointShieldTM PDDS. Diver Detection Sonar was one of the largest contract in the world market.

Tata Power is India’s largest unified power corporation and together with its subsidiaries and jointly controlled units, it has an installed capacity of 10857 MW. It has existence across the complete power value chain: Generation of renewable as well as conventional power including hydro and thermal energy; transmission & distribution, trading and coal & freight logistics.

– TFM News

Read more Business News & Market News

Prakash Poojary
Business Analyst

Leave a Reply