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19 January, 2018 03:17 IST
Indian Navy signs contract with Tata Power for supply of PDDS
Source: IRIS | 17 Nov, 2017, 10.06AM
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Tata Power Strategic Engineering Division (Tata Power SED) announced the receipt of a contract for the supply of Portable Diver Detection Sonar (PDDS) for Indian Naval applications from Indian Ministry of Defence (MoD). This contract is a part of ''Make in India'' initiative and the second contract under the MoD procurement category ''Buy and Make (India)'' signed by MoD. Tata Power SED partnered with DSIT Solutions, Israel for the delivery of PDDS Systems under a Technology Transfer arrangement for DSIT's Pointshield PDDS. For Diver Detection Sonar's this is one of the largest order in the world market.

PDDS will largely be manufactured in India at the Tata Power (Q,N,C,F)* SED's Karnataka factories under ToT and support from DSIT Solutions.

Rahul Chaudhry, CEO of Tata Power SED, said, ''We thank Indian Navy and Ministry of Defence for this opportunity. We are committed to 'Make in India in Defence' agenda for GoI. In the last three years, we have committed the largest Private Sector investments in Defence Manufacturing at Vemagal in Karnataka. For this program, Tata Power SED is committed along with our partner DSIT Solutions to deliver a world class solution to Indian Navy.''  

Shares of the company gained Rs 3.85, or 4.69%, to trade at Rs 85.90. The total volume of shares traded was 167,367 at the BSE (9.43 a.m., Friday).

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