Business / Industry Sectors
India approves Elbit's increased investment in Bharat Forge joint venture
11/11/2015
The bid by Elbit will increase investment in its JV with BF to 49% of equity. The increased investment is worth INR387 million (USD5.7 million)

Indian authorities have approved Israeli company Elbit System's proposal to increase its investment in an existing joint venture (JV) with Indian firm Bharat Forge (BF). Judgment on another Indian-Israeli defence JV, proposed by Rolta India and Meprolight, has been postponed, however.

The Foreign Investment Promotion Board (FIPB) said in a notice on 6 November that it has cleared a bid by Elbit to increase investment in its JV with BF - named BF Elbit Advanced Systems - to 49% of equity as per foreign direct investment (FDI) rules that were updated in 2014. The FIPB said the increased investment is worth INR387 million (USD5.7 million).

 

Source: IHS Jane's 360

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