Punj Lloyd inks pact with STK for defence equipment

{image-Punj+Lloyd1_05062008.jpg news.oneindia.in}New Delhi, Jun 5: Punj Lloyd Ltd, an engineering, procurement and construction firm, today said it has signed an agreement with Singapore Technologies Kinetics Ltd (STK) to manufacture defence equipment for India's Defence Ministry.

The company has been issued a licence by the government for manufacturing guns, rockets, missile artillery systems and related equipment in addition to other defence equipment. Under this agreement, both STK and Punj Lloyd will be pooling their resources to execute supply contracts, the company said in a statement without disclosing the financial details.

Singapore-based STK is one of Asia's leading land systems and specialty vehicle companies with 1.18 billion Singapore dollar sales in 2007.

Its capabilities include design and development, system integration and production through life support and management of a wide range of specialised equipment.

UNI