Team Herald
PANJIM: At the backdrop of the ongoing Defexpo 2016 in Goa, Indian company MKU and Russian company JSC Shvabe signed an memorandum of understanding to manufacture Electro Optical Devices in India, with production facilities to be situated in Kanpur, Uttar Pradesh, MKU’s headquarters.
MKU is a leading defence manufacturer from India supplying to over 230 forces across over 100 countries, globally and has on Tuesday entered into a JV with JSC Shvabe. This joint venture is not only focused on manufacturing of electro optical (EO) devices but has also to cater in-service EO equipment with the Indian Army and Ministry of Defence at large. EO devices from Shvabe are in use by the Indian army for sometime now and many of these devices require upgradation, refurbishment and maintenance to keep up with the changing combat theaters and its intense requirements.
Specifically, devices on platforms require mission specific upgradation and maintenance. With, emphasis on upgradation in terms of systems and fighting capabilities a lot of stress is on mechanization of the infantry and of-course airborne and naval platforms too are in focus. New acquisition of platform systems shall certainly give birth to requirements of equally modern EO equipment for the mechanized contingent too, which translates to revenue streams from this less known domain for MKU as well as Schvabe.
As per the MOU Shvabe will train and assist in setting up of EO manufacturing and servicing unit in India with MKU. Training initially will be given to technical persons from MKU to carry out maintenance and repair of the in-service EO units, which will give a kick start to the JV and later graduating to a full fledged manufacturing unit by mid of 2017.
“The company has exported defence eqipment worth Rs 300 crore from India and has registered a turnover of over Rs 400 crore during 2015-16. In next two years our target is to export equipments worth Rs 500 crore as we are a registered suppliers to the United Nations and the NATO,” said Mr Rajesh Gupta, Senior Manager, Business Development, MKU.
