The MoU, signed in Lystrup, Denmark, envisages current and future co-operation leveraging and complementing the unique strengths of the companies, sources in BEL said, pointing out that Terma has wide range of capabilities in naval-related products and technology.
Confirming the signing of the agreement, BEL Director Research and Development I V Sarma said: “The MoU has been signed and this will help us meet the offset obligations besides work closely with their technology.”
While this is an important agreement for BEL, it gives Terma an entry into India.
Published 17 December 2010, 18:02 IST