"Contract to supply 1000 Barak-8 MRSAM missiles' kits for the Indian Army and Air Force"
At a ceremony earlier today, RAFAEL Executive Vice President & General Manager of the Air & Missile Defense Systems Division, Brigadier General (ret.) Pini Yungman, presented to Kalyani Rafael Advanced Systems Ltd, India (KRAS) a $100 Million contract for manufacturing 1,000 BARAK-8 MRSAM missiles' kits which in turn would be supplied to BDL for further integration. KRAS is a 49:51 ratio Joint Venture between RAFAEL Advanced Systems and Kalyani Strategic Systems Ltd, with the Indian partner holding 51%. Keeping with its commitment to 'Make-in-India', the JV partners have invested in best in class production facilities, state of the art engineering services, and extended Life cycle support (MRO) for systems supplied to Indian Defence force. KRAS is expected to ramp up its employee strength to 300 technical experts by the year 2023.
RAFAEL Advanced Defense Systems has a rich history of collaboration with India's defense industries, resulting in multiple joint ventures, subsidiaries, as well as fruitful information sharing. These partnerships, over past two decades, have led RAFAEL to invest over $250 million in the country through its Make-in-India initiative.
Speaking at the ceremony, BG (ret.) Pini Yungman emphasized KRAS's commitment to the operational readiness of the Indian Army and Indian Air Force (IAF). "We at RAFAEL are proud of our role - not only in KRAS - but also of our participation in Make-in-India, and our strong relationship with the vibrant talent across India's defense industries. As we mark end of this project, we look forward to celebrating many more milestones with KRAS as well as our many other partners like BDL within India."
Kalyani Group has always been at the forefront of globalizing India and making 'Make in India' a global brand. It continues to live by the same philosophy in its Defence Business profile with the successful association with JV partners, DRDO and DPSUs.
Mr Baba Kalyani, Chairman of the Kalyani Group said on the occasion "This order is a testimony to the capabilities that exists in the country and how they can be utilized to truly achieve the aim of 'Make in India'. Kalyani Group is immensely proud of this achievement and our association with Rafael. We are confident of executing many more such orders."