The MoD sealed an over Rs 5,300 crore deal with state-run BEL for procurement of electronic fuzes for the Indian Army for a period of 10 years.
MoD Inks Over Rs 5,300 Cr Deal With BEL
The MoD sealed an over Rs 5,300 crore deal with state-run BEL for procurement of electronic fuzes for the Indian Army for a period of 10 years. An electronic fuze is an integral component of medium to heavy calibre Artillery Guns which provide sustained artillery firepower for military operations. The ministry said the fuzes are being procured for usage in artillery guns which are capable of lethal engagements in various kinds of terrain including high-altitude areas along the northern borders.
The electronic fuzes will be manufactured by the BEL at its Pune and upcoming Nagpur Plant. The project will generate employment for one and half lakh man days and encourage active participation of Indian Industries including MSMEs in ammunition manufacturing and broaden ammunition manufacturing ecosystem in the country.
A Comptroller And Auditor General’s (CAG’s) Performance Audit report of December 2019 on “Production of Fuzes in Ordnance Factories”, stated there were mismatches in the availability of empty fuze from in-house production as well as from trade sources and their filling capacity in OFs.
Further, the company also said that it has received additional orders worth Rs 356 crore since the last disclosure on 6th Dec 2023 and the said orders pertain to other products like Electronic Warfare Testers, Medical Systems (Exports), Consumables and Batteries for Electronic Voting Machines, Night Vision Devices Spares and Services.
BEL share price jumped more than 3%, December 15, as the Street sentiment in the stock remained positive on bagging a mega defence order.
BEL
Bharat Electronics Limited is an Indian Government-owned aerospace and defence electronics company. It primarily manufactures advanced electronic products for ground and aerospace applications. BEL is one of sixteen PSUs under the Ministry of Defence of India.
