`1,200 crore Defence Ministry contract for Tata Power SED

New Delhi: Tata Power Strategic Engineering Division (SED) has bagged a Rs 1,200 crore contract from the defence ministry for supply of ship-borne 3D Air Surveillance Radars.

Tata Power Strategic Engineering Division has signed a deal with the Ministry of Defence to supply 23 ship-borne 3D Air Surveillance Radars to the Indian Navy over the next 10 years, a Tata Power statement said Friday.

The contract was signed under the Buy & Make (India) category of the Defence Procurement Procedure (DPP) 2013 that will be offering the Indian Navy a proven solution, with a production arrangement in India under Transfer of Technology (ToT).

The contract will be executed by Tata Power SED as the prime contractor with foreign OEM (Original Equipment Manufacturer) partner Indra Sistemas, Spain.

Tata Advanced Systems Ltd (TASL) has entered into a share purchase agreement with Tata Power to buy Tata Power SED, subject to regulatory and other approvals.