Samtel, Thales to invest Rs 60-mn to make avionic systems

New Delhi: Samtel Display Systems Ltd and Thales have formed a joint venture to manufacture a range of avionic systems for the domestic market,investment around Rs 60 crore.

The joint venture – Samtel Thales Avionics Pvt Ltd – will develop, produce, sell and maintain Helmets Mounted Sight and Display (HMSD) and other avionic systems.

Samtel will hold a 74 per cent stake in the joint venture company with the rest of the stake being with Thales.

The Chairman and Managing Director, Samtel Display Systems, Mr Satish Kaura, said that the initial investment in the joint venture will be around Rs 60 crore.

“As both the companies move ahead, the investments will increase,” Mr Kaura said.

The HMSD systems will be developed and produced here the advantage of which would include support over the lifetime of the product, which would be important for the Indian Air Force, officials said.

The products made here will also help Thales meet the offset obligations for the various supplies to the Defence Ministry .

The company also plans to bid for participating in the development of the avionics on the indigenously built light combat aircraft.