Bharat Dynamics and UAE firm exchange MoU to explore new business opportunities

1 Apr 2022 , 10:32 AM

Bharat Dynamics Limited (BDL) and Tawazun Economic Council (TEC), United Arab Emirates have exchanged Memorandum of Understanding (MoU) to explore new business opportunities in various areas of mutual interest in the field of defence.

The MoU was exchanged in the presence of Commodore Siddharth Mishra (Retd), CMD, BDL by Mr. NP Diwakar BDL Director Technical and Mr. Zayed Saeed Zaal Hadher Almeraikhi, Chief Officer, Tawazun Economic Council, UAE at BDL, Hyderabad on Tuesday.

Both BDL and TEC, under the MoU, will work together to identify different business opportunities and assess the viability and feasibility of jointly implementing business opportunities in the field of co-development, coproduction, establishment of Joint Ventures, setting up of Maintenance, repair, refurbishment, life extension facilities, supply of military products as well as licensed production

The duo will also explore the export possibility of the products to reach out the global demands.

Commodore Siddharth Mishra (Retd), CMD, BDL on this occasion stated that the MoU will help in ushering new business avenues for both the companies in various areas of mutual interest.

Bharat Dynamics Ltd is currently trading at Rs569.80 up by Rs23.2 or 4.24% from its previous closing of Rs546.60 on the BSE. The scrip opened at Rs554 and has touched a high and low of Rs577.75 and Rs546.15 respectively.