Mumbai, May 4:
Indian diversified technology company Rolta India Ltd. (RIL) on Monday said it is in the process of signing “definitive agreements” with an Israeli electro-optics company, Meprolight, to set up a joint-venture to manufacture equipment for the Indian armed forces.
“To be owned 51 percent by Rolta and 49 percent by Meprolight, the joint venture will take advantage of technology transfer from Meprolight for manufacturing and developing the state-of-the-art optronics devices based on image intensifier and thermal imaging technologies in India,” RIL said in a statement.
“It will address the growing demand for night fighting capabilities by the Indian defence and security forces.”
Member of global defence and security group of companies SK Group, Meprolight develops, manufactures and markets systems for infantry, armed forces, law enforcement agencies and civilian markets.
The proposed joint venture is subject to approval from concerned authorities. (IANS)