Engineering and technology conglomerate Bharat Forge Ltd and global aerospace and technology company Paramount Group on Monday announced a cooperation that will see them join technologies, capabilities and expertise to manufacture armoured vehicles in India.
An agreement to this effect was signed by both companies during the International Defence Expo (IDEX 2021) in Abu Dhabi.
"The Kalyani M4 is a fantastic new-generation vehicle and we want to position it as the future of protection in all markets worldwide," said Amit Kalyani, Deputy Managing Director of Bharat Forge.
"This collaboration brings together the manufacturing and technology excellence of two leading companies, which have matching synergies and complementary capabilities," he said in a statement.
Ivor Ichikowitz, Chairman of Paramount Group, said this model of world-beating innovative technology is fundamental to enhancing any country's contemporary defence and technology capabilities.
"The Kalyani M4 is based on one of our flagship armoured vehicles designed specifically for in-country production in India with our partners the Kalyani Group. We are proud that it will be made in India," he said.
The Kalyani M4 is a multi-role platform designed to meet specific requirements of armed forces for quick mobility in rough terrain and in areas affected by mine and IED threats. It offers ballistic and blast protection up to 50 kg TNT side blast or IED/roadside bombs due to its design built on a flat-floor monocoque hull.
The Kalyani M4 successfully completed a series of extreme vehicle trials in some of the toughest environments in India, Bharat Forge said in the statement.
On BSE, Bharat Forge closed at Rs 588.20 per share, down 2.39 per cent from its previous close.