Pipavav Shipyard inks MoU with SAAB Group

Pipavav Shipyard inks MoU with SAAB Group

Bangalore: Mumbai-listed shipbuilder Pipavav Shipyard Ltd has signed a memorandum of understanding for defence co-production with the Swedish group SAAB Dynamics AB, marking its entry into army and airforce segments and help the firm cater to the entire range of defence products.

“This partnership offers access to SAAB’s cutting edge technology for products in the defence and aerospace sectors," Pipavav Shipyard said in a statement to the stock exchange. “ With this engagement, the company would now be able to cater to the entire gamut of defence services sector," it added.

Pipavav Shipyard currently has the capability to build ships for India’s defence requirements. It had recently signed a protocol with Rosoboronexport State Corporation for constructing war ships under Russian collaboration, technology and supervision at its yard.

The SAAB Group is a defence and security company focusing on aeronautics, dynamics, electronic defence systems, security and defence solutions. Dynamics offers ground combat weapons, missile systems, torpedoes, sensor systems, unmanned underwater vehicles and signature management systems for armed forces as well as remotely operated vehicles and security systems for the offshore industry and nuclear power plants.