BEL, Safran Partner for HAMMER Weapon System JV: Boosts India's Defense Tech

• Bharat Electronics Limited (BEL) and Safran Electronics and Defence (SED), France, approved a Joint Venture Agreement (JVA) for the HAMMER weapon system project.
• The JV will establish a private limited company under the Companies Act, 2013, with its registered office in Pune or another mutually agreed location.
• The new company will operate as a "Center of Excellence," focusing on manufacturing, supply, maintenance, and repair of the Guidance Kit (GK) for the HAMMER weapon system.
• Primary end-users include the Indian Air Force and Indian Navy, with potential for other Indian users.
• BEL and Safran will each hold 50% equity in the JV, with an initial authorized share capital of Rs 1,00,000, expandable to Rs 10,00,00,000.