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Kalyani Rafael Advanced Systems gets USD100 Mn Order from RAFAEL

20190711

Mumbai, Kalyani Rafael Advanced Systems Ltd, India (KRAS) said it has received a USD 100 Mn order from RAFALE. The contract is for manufacturing 1,000 BARAK-8 MRSAM missiles' kits which in turn would be supplied to BDL for further integration, Bharat Forge said in a filing with BSE. KRAS is a 49:51 ratio Joint Venture (JV)between RAFAEL Advanced Systems and Kalyani Strategic Systems Ltd (KSSL), with the Indian partner holding 51 pc. KSSL is a 51 pc subsidiary of Bharat Forge Limited. Keeping with its commitment to 'Make-in-India', the JV partners have invested in best in class production facilities, state of the art engineering services, and extended Life cycle support (MRO) for  systems supplied to Indian Defence force. KRAS is expected to ramp up its employee strength to 300 technical experts by the year 2023. RAFAEL Advanced Defense Systems has a rich history of collaboration with India's defense industries, resulting  in multiple joint ventures, subsidiaries, as well as fruitful information sharing. These partnerships, over past two decades, have led RAFAEL to invest over USD250 million in the country through its Make-in-India initiative, filing added.

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