PTI, European Aeronautic Defence and Space Company's subsidiary MBDA is planning to take equity in the proposed joint venture with Bharat Dynamics for new generation of missile systems.
The JV is expected to become operational early next year.
MBDA had signed a memorandum of understanding (MoU) with BDL earlier this year for cooperation in development and manufacture of all varieties of missile systems, but the European consortium is now thinking in terms of converting the proposed JV into an equity venture.
“We have decided to forge an equity joint venture with BDL for co-development and co-production of a new generation of missile systems. The JV will then be used to export these products worldwide,” an EADS official told PTI.
The JV is expected to produce several kinds of missile systems including anti-tank, surface-to-air and air-to-air missiles.
A new company will be set up for the purpose, he added but declined to divulge the quantum of investment EADS had earmarked for the proposed venture.
