BEL plans to invest Rs.1500 Crore in joint tech ventures

BEL plans to invest 1500 Crore in joint tech ventures

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Bangalore: Bharat Electronics (BEL) plans to invest 1000 to 1500 crore in joint ventures to create critical technologies for national security over the next three years. The company is pursuing three to four joint ventures with multinational and domestic companies, reports Business Line.

"Our target is that at least one should get decided by March 2010; and a few more during 2010-11," said Ashwani Kumar Datt, Chairman and Managing Director of BEL. "We may not need more than three or four joint ventures." The company has been in talks with Israel's Rafael Advanced Defense Systems and Elbit Systems Electro-optics (El-Op), Europe's Selex Galileo and Thales, Boeing and Hyderabad based Astra Microwave.

The technologies shortlisted for acquisition through tie-ups or special arrangements include thermal imagers, ATM radars, air-borne electronic warfare systems, missile electronics and guidance systems. BEL develops futuristic products for the Armed Forces, which contributes 80 percent of its revenues.

BEL is in talks with Elbit El-Op and Photonis for acquisition of night-vision technologies, (available with very few countries) is a priority. Until last year, BEL had planned to buy a technology company overseas. Further, KPMG was enlisted to advice on new growth areas.

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