<p>Tata Power has received the order to modernise the Airfield Infrastructure of Indian Air Force from the Ministry of Defence.<br /><br />Sources said the contract is worth over Rs 1,000 crore and would be implemented in a two-phases over a period of around four years. It would cover about 30 air fields.<br />This would probably be the largest defence contract awarded through a global tender process, another source said.<br /><br />The contract is quite important and encouraging in terms of private sector participation in the defence sector and would create a "precedence", the source added.<br /><br />"The programme, known as Modernisation of Airfield Infrastructure – Phase I (MAFI-I), is of strategic importance and aims to improve capability of the Airfields to handle the modern combat air fleet being inducted by IAF," Tata Power said in a statement today.<br /><br />Tata Power Strategic Electronics Division (SED) Chief Executive Officer Rahul Chaudhry said the contract "won against a Global Defence tender of MoD, is a watershed moment, not only for us, but also for increasing private sector participation in Indian defence sector".<br /><br />The company has been working closely with the Ministry of Defence and Defence Research and Development Organisation (DRDO) to provide state-of-the-art solutions to Indian Armed Forces for the past four decades, he added.<br /><br />Tata Power's Managing Director Anil Sardana noted that bagging this order signifies recognition of Tata Power SED's capability to support the Indian defence establishment.<br /><br />"Tata Power SED is committed to delivering world-class Airfields to the Indian Air Force and the division will continue to remain a long-term reliable partner of the Indian Armed Forces and other related establishments of MoD," he said.<br /><br />Shares of the Tata Power closed marginally higher at Rs 1317.30 on the Bombay Stock Exchange.</p>
<p>Tata Power has received the order to modernise the Airfield Infrastructure of Indian Air Force from the Ministry of Defence.<br /><br />Sources said the contract is worth over Rs 1,000 crore and would be implemented in a two-phases over a period of around four years. It would cover about 30 air fields.<br />This would probably be the largest defence contract awarded through a global tender process, another source said.<br /><br />The contract is quite important and encouraging in terms of private sector participation in the defence sector and would create a "precedence", the source added.<br /><br />"The programme, known as Modernisation of Airfield Infrastructure – Phase I (MAFI-I), is of strategic importance and aims to improve capability of the Airfields to handle the modern combat air fleet being inducted by IAF," Tata Power said in a statement today.<br /><br />Tata Power Strategic Electronics Division (SED) Chief Executive Officer Rahul Chaudhry said the contract "won against a Global Defence tender of MoD, is a watershed moment, not only for us, but also for increasing private sector participation in Indian defence sector".<br /><br />The company has been working closely with the Ministry of Defence and Defence Research and Development Organisation (DRDO) to provide state-of-the-art solutions to Indian Armed Forces for the past four decades, he added.<br /><br />Tata Power's Managing Director Anil Sardana noted that bagging this order signifies recognition of Tata Power SED's capability to support the Indian defence establishment.<br /><br />"Tata Power SED is committed to delivering world-class Airfields to the Indian Air Force and the division will continue to remain a long-term reliable partner of the Indian Armed Forces and other related establishments of MoD," he said.<br /><br />Shares of the Tata Power closed marginally higher at Rs 1317.30 on the Bombay Stock Exchange.</p>