Adani Enterprises Ltd. on Tuesday, June 11, said Adani Defence & Aerospace has signed a cooperation agreement with UAE-based EDGE Group.
"The agreement aims to establish a global platform leveraging the defence and aerospace capabilities of both companies to bring together their respective product portfolios and cater to the requirements of global and local customers," the company said in a statement.
The agreement includes evaluating cooperation across EDGE's and Adani's core product domains, including missiles and weapons covering airborne, surface, infantry, ammunition, and air defence products, platforms and systems covering unmanned aerial systems, loitering munitions, counter drone systems, unmanned group vehicles as well as electronic warfare and cyber technologies, it said.
The agreement will also explore the establishment of R&D facilities in India and the UAE, setting up of development, production and maintenance facilities of defence and aerospace solutions to serve the two captive markets and the Southeast Asian and wider global markets, the company said.
"Our collaboration marks the beginning of a new era in enhancing defence capabilities, emphasizing our commitment to advance technological prowess and promoting bilateral defence cooperation between India and the UAE," said Ashish Rajvanshi, CEO, Adani Defence & Aerospace.
Meanwhile, Hamad Al Marar, the managing director and CEO fo EDGE Group said the agreement reflects their dedication to brining their customers the most advanced and sophisticated products to the market, while taking advantage of the global export potential including UAE-grown technology.
Adani Enterprises shares were trading 0.68% higher at ₹3,242 apiece at 12.35 am on Tuesday, June 11.
Also Read: IRCTC, RailTel and other railway stocks surge as Ashwini Vaishnaw retains Railway Ministry
"The agreement aims to establish a global platform leveraging the defence and aerospace capabilities of both companies to bring together their respective product portfolios and cater to the requirements of global and local customers," the company said in a statement.
The agreement includes evaluating cooperation across EDGE's and Adani's core product domains, including missiles and weapons covering airborne, surface, infantry, ammunition, and air defence products, platforms and systems covering unmanned aerial systems, loitering munitions, counter drone systems, unmanned group vehicles as well as electronic warfare and cyber technologies, it said.
The agreement will also explore the establishment of R&D facilities in India and the UAE, setting up of development, production and maintenance facilities of defence and aerospace solutions to serve the two captive markets and the Southeast Asian and wider global markets, the company said.
"Our collaboration marks the beginning of a new era in enhancing defence capabilities, emphasizing our commitment to advance technological prowess and promoting bilateral defence cooperation between India and the UAE," said Ashish Rajvanshi, CEO, Adani Defence & Aerospace.
Meanwhile, Hamad Al Marar, the managing director and CEO fo EDGE Group said the agreement reflects their dedication to brining their customers the most advanced and sophisticated products to the market, while taking advantage of the global export potential including UAE-grown technology.
Adani Enterprises shares were trading 0.68% higher at ₹3,242 apiece at 12.35 am on Tuesday, June 11.
Also Read: IRCTC, RailTel and other railway stocks surge as Ashwini Vaishnaw retains Railway Ministry
First Published: Jun 11, 2024 12:46 PM IST
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