M Ramesh L&T MBDA Missile Systems Ltd, a joint venture between Larsen & Toubro and French company MBDA, is awaiting the grant of an industrial licence to export fully assembled missile systems to Europe.
The industrial licence, under the Arms Act,1959, is given by the Union Home Ministry, but has been delegated to the Commerce Ministry. BusinessLine has learnt that the Commerce Ministry will take up L&T MBDA’s application for licence at the Board of Approvals meeting on November 5.
As soon as it secures the licence, L&T MBDA, in which L&T holds 51 per cent, will begin to produce missiles from a leased plant in Coimbatore’s Aspen SEZ in Coimbatore. (The SEZ is owned by the family of Suzlon group founder Tulsi Tanti).
L&T has been producing missile subsystems for both Indian programmes and MBDA for the past few years. However, the JV with MBDA, announced in April 2017, is for “nearly full missile assembly except explosives, for export to Europe”, Read More