Larsen & Toubro (L&T) and MBDA have set up a joint venture to develop and supply missiles and missile systems to meet the potential requirements of the Indian Armed Forces.
L&T MBDA Missile Systems Ltd joint venture will operate from a dedicated work centre, which will include pyrotechnical integration and final checkout facilities. It is expected to be incorporated in the first half of 2017 after necessary approvals.
L&T will own 51% of the Company and MBDA, 49%.
To begin with, the joint venture company will look to develop and supply fifth generation anti-tank guided missiles, missiles for coastal batteries and high speed target drones.