L&T ties up with MBDA to develop missile systems for Indian armed forces

Larsen & Toubro and MBDA have set up a joint venture (JV) to develop and supply missiles and missile systems to meet the growing potential requirements of the Indian armed forces.
 
The JV named ‘L&T MBDA Missile Systems Ltd’ will start its operations in the first half of 2017.
 
As per FDI policy, L&T will hold 51 per cent of the stake in the JV and the balance 49 per cent will be held by MBDA.
 
L&T and MBDA have collaborated and partnered on co-development and production of major subsystems involving complex technologies and sophisticated weapon systems such as MICA missile launchers and airframe segments including control actuation units for Indian MoD orders.
 
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with USD 16 billion in revenue.