Astra Microwave Products said today that it will be forming a joint venture company with Israel’s Rafael Advance Defence Systems for the production and supply of tactical radio communication, electronic warfare and signal intelligence systems.
The expected investment for commencing this venture is $20 million (approx Rs 133 crore) in the first two years.
Astra Microwave Products said in a BSE filing that “The company have signed a term sheet for formation of joint venture company (JV) with Rafael Advanced Defence Systems Ltd., Israel for joint production and supply of tactical radio communication systems, electronic war-fare systems and signal intelligence systems.”
“The JV will operate from Hyderabad and is expected to start business development activities in the first half of 2016. About $20 million is expected to be invested in the first two years in the JV,” it said further.