L&T joint venture to export missiles to Europe from Coimbatore SEZ

L&T MBDA Missile Systems Ltd is waiting for an industrial licence to export fully assembled missile systems to Europe from a Coimbatore special economic zone in Tamil Nadu.

The company is a joint venture between Larsen & Toubro and French company MBDA. According to a BusinessLine report, the Union Commerce Ministry will take up L&T MBDA’s application for licence at the Board of Approvals meeting on November 5.

Soon after receiving the licence, L&T MBDA will start making missiles from a leased plant in Coimbatore’s Aspen SEZ, owned by the family of Suzlon group founder Tulsi Tanti.

According to Jayant Patil, Wholetime Director and Senior Executive Vice-President (Defence Business) at L&T, producing the missiles from an SEZ will help save on customs duties.

Image credit : defenceaviationpost.com

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