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Texmaco enters agreement with Russian agency

IBEF:  July 27, 2016

Kolkata: India's Texmaco Rail & Engineering has signed a memorandum of understanding (MoU) with Russia's ROSOBORONEXPORT (ROE) for modernization of Armoured Vehicles operated by the Indian Army. ROE is the sole Russian state intermediary agency responsible for import/export of defense-related products, technologies and services. Apart from modernization of Armoured Vehicles, they will also work on projects like co-production of BMP-3, research, development and production of futuristic models and spare parts at Texmaco industrial facilities. The cooperation will also enable the two entities to provide cost-effective upgraded solutions for in-service Armoured Vehicles, as well as state-of-the art Russian technologies for building futuristic Armoured Vehicles under Make-in-India programme.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.