NEW DELHI: The Ministry of Defence (MoD) on Thursday inked a contract with Bharat Dynamics Limited (BDL) for the procurement of INVAR Anti-tank Missiles at a total cost of Rs 2,095.70 crore, under the 'Buy (Indian)' category.
The contract was signed by senior officials of the Ministry of Defence and representatives of BDL in the presence of Defence Secretary Rajesh Kumar Singh at South Block, New Delhi on Thursday.
The procurement of the INVAR Anti-tank Missiles enhances the firepower and lethality of Tank T-90, the mainstay of Armoured Regiments of the Indian Army.
The weapon system is a sophisticated laser-guided anti-tank missile with very high hit probability. It is set to transform the conduct of Mechanised operations and offer operational advantage against the adversary.
The BDL describes the missile and mentions "INVAR (3 UBK 20) ATGM" as a mechanised infantry weapon fired from the gun barrel of a T90 tank on stationary and moving target.
As per the BDL website, the missile can "destroy armoured vehicles equipped with Explosive Reactive Armour" upto the range of five Kilometers (5000 M).
The Missile is to be procured under the 'Buy (Indian)' category which, the MoD, refers to the procurement of products from an Indian vendor meeting one of the two conditions: products that have been indigenously designed, developed and manufactured with a minimum of 50% Indigenous Content (IC) on cost basis of the total contract value; or products, which may not have been designed and developed indigenously, having 60% IC on cost basis of the total contract value.
These missiles are manufactured by BDL under technical collaboration with Rosoboronexport of Russia.
The procurement, MOD said, underscores "the Government's efforts to meet the operational requirements of the Indian Army by leveraging the existing expertise of Defence Public Sector Undertakings, along with development of niche technologies by domestic industries towards achieving Aatmanirbharta in defence."