The Javelin Joint Venture is a partnership between Raytheon Company and Lockheed Martin. The LOI establishes a framework for future technological cooperation among the three leading companies of the globe.
Tata Power has signed a letter of intent (LOI) with US-based Javelin Joint Venture for its Strategic Engineering Division (SED) to explore development and production of anti-armour missile system.
The Javelin Joint Venture is a partnership between Raytheon Company and Lockheed Martin. The LOI establishes a framework for future technological cooperation among the three leading companies of the globe.
As part of the LOI, Javelin Joint Venture (JJV) and Tata Power's Strategic Engineering Division will create a strategy to co-develop and produce the Javelin missile system and integrate platform mounts to meet India's defence requirements. As per the plan, even ground combat vehicle, dismounted infantry and rotorcraft applications will be manufactured jointly.
This move comes at a time when the government is working towards having private participation in the defence sector and Make in India initiative.
"This agreement brings together three world leaders in aerospace and defence technology to extend Javelin to new customers, new applications and new platforms. With this deal, we are also reinforcing our continued support of the 'Make in India' initiative," said John Halvey, Javelin Joint Venture president at Raytheon Missile Systems.
Rahul Chaudhry, chief executive officer at Tata Power SED shared, "Now, our partnership with the Javelin Joint Venture will bring the world's best technology to our soldiers enabling battlefield supremacy. Indian industry will benefit immensely from the depth and range of this planned technology transfer and co-development."
On Wednesday, Tata Power's stock touched a 71-week high at Rs 78.65; the previous high was on April 23, 2015, when it's share price was at Rs 79. The stocks opened at Rs 77.05, fell to a low of Rs 76.55, but later touch 16-month high to end at Rs 78.25 per share.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "dna")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}