Defence PSU Bharat Electronics Ltd. has signed an MoU with Goa Shipyard Ltd. to jointly develop products and solutions within the autonomous navigation space.
The MoU aims to leverage the strengths and capabilities of the two companies, who will work towards developing autonomously navigated vessels and derivatives thereof. They will also work to develop digital control and simulation of ships, networking of vessels and other areas.
Goa Shipyard is a miniratna PSU known to develop high-technology defence vessels. It has developed multiple offshore patrol vessels, fast patrol vessels, missile boats, survey vessels etc. As of date, Goa Shipyard has built and delivered 227 ships and over 150 GRP boats.
On Wednesday, BEL announced that it had signed a memorandum of understanding (MoU) with the Delhi Metro Rail Corporation (DMRC) to jointly develop an indigenous train control system.
BEL had said that the two entities would come together to build the Indigenous Communication-based Train Control System (i-CBTC), which will enable unmanned operations of metro and trains. The joint project is being carried out by the Ministry of Housing and Urban Affairs.
BEL is a PSU under the Ministry of Defence engaged in the design, development, manufacturing, supply and support of a wide range of defence electronics products, systems, strategic components, services and select non-defence products.
Its revenue grew to Rs 3,962 crore in the September 2022 quarter compared to Rs 3,678 crore in the same quarter a year ago.
Shares of Bharat Electronics are trading 1.9 percent lower at Rs 106.
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