Defence ministry inks Rs5,336-cr contract with BEL for electronic fuses of artillery guns
16 Dec 2023
Ministry of defence on Friday signed a contract with Bharat Electronics Ltd (BEL), Pune for procurement of electronic fuses for artillery guns, involving total expenditure of Rs5,336.25 crore for the government over a 10-year period.
Electronic fuses are used in medium and heavy calibre artillery guns that provide sustained firepower in military operations.
Part of the ‘Aatmanirbhar Bharat’ vision, this contract aims to build up ammunition stocks to minimise imports, achieve self-sufficiency in critical technologies and avoid supply chain disruptions.
These fuses will be manufactured at BEL’s Pune and upcoming Nagpur plants. The project, which will have industry participation, will encourage MSMEs and generate employment for one and half lakh mandays, according to a defence ministry release.
The 10-year contract boosted the Bharat Electronics stock, which surged 3 per cent on Friday.
The BEL stock has surged over 18 per cent in the last one month and by 68 per cent so far during the fiscal.
