BEL to boost exports to \0 mln by 2010
Machilipatnam, Andhra Pradesh, Aug 13 (UNI) Public sector company Bharat Electronics Ltd (BEL) has set a target to achieve exports worth 100 million dollars over the next three years, an official source said here today.
The optimism stems from the opportunity from the mandatory offset clause in government's defence procurement policy, the source said.
BEL has signed MoUs with aerospace majors like Lokheed Martin, Boeing and global defence companies like EADS and Northrop Grumman.
Negotiations are underway with many US and European companies.
The company consolidated its capabilities for executing turnkey system solutions based on various technologies, including Satcom, CDMA, radio communication and networking and is actively pursuing projects in these areas. It is also under negotiation with private broadcasters for end-to-end solutions in the FM space.
BEL is upgrading self-propelled air defence system, Schilka, with modern radar, computer system, electronics and a new fuel-efficient prime mover. The upgraded systems are expected to be inducted into the service during 2008-09.
BEL which clocked a turnover of Rs 3,960.38 crore in 2006-07 is aiming one billion dollars in the current fiscal and two billion dollars by 2011-12, the source said.