Kalyani Rafael Advanced Systems Ltd (KRAS) Thursday received a USD 100-million contract from Israel-based defence manufacturer Rafael Advance Systems to make 1,000 units of BARAK-8 MRSAM missiles and kits.
Speaking to reporters after the formal announcement of the contract, chairman of Kalyani group Baba Kalyani said the missiles and kits were intended to be supplied to defence public sector BDL Limited for further integration.
KRAS is a 49:51 joint venture between Rafael Advanced Systems and Kalyani Strategic Systems Ltd.
He said KRAS wa looking to set up second facility here and approachedthe Telangana government seeking about 100 acres of land.
"This order is a testimony to the capabilities that exists in the country and how they can be utilised to truly achieve the aim of Make in India," he said.
Kalyani group is proud of this achievement and its association with Rafael, he said.
"We are confident of executing many more such orders," he added.
A senior KRAS official said the time schedule for the USD 100-million order was about four years starting from the fourth quarter of this fiscal.
He said the company had exported USD 15 million worth of products last year.
KRAS was expected to ramp up its employee strength to 300 technical experts by year 2023 and Rafael has so far invested USD 250 million during over last two decades in India through various partnerships and joint ventures through its Make-in-India initiative, a press release from the company said.
"Why we are looking at the second facility here is to create more local manufacturing, indigenisation and integration of defence products. It cannot happen in the place we have now. We need to have a second unit, which is why we're holding talks with the Telangana government to get about 100 acres of land," Kalyani said replying to a query.
In future when the joint venture gets more 'matured', KRAS would also start directly supplying products and extend our services to the Defence Ministry, he added.
Rafael's executive vice-president and general manager of air and missile defence systems division Pini Yungman said, "We look forward to crossing many more milestones with KRAS as well as our many other partners like BDL within India.