India News | HAL-L&T Consortium Bags Rs 860 Cr Contract for PSLV
Get latest articles and stories on India at LatestLY. HAL-L&T consortium has bagged a Rs 860 crore contract for end-to-end realisation of five Polar Satellite Launch Vehicles (PSLV) over a period of four years from the NewsSpace India Limited (NSIL).
Bengaluru, Sept 5 (PTI) HAL-L&T consortium has bagged a Rs 860 crore contract for end-to-end realisation of five Polar Satellite Launch Vehicles (PSLV) over a period of four years from the NewsSpace India Limited (NSIL).
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The contract papers were exchanged on Monday between HAL-L&T and NSIL during the inaugural session of the seventh 'Bengaluru Space Expo 2022' at the Bangalore International Exhibition Centre (BIEC), Bengaluru-headquartered HAL said in a statement.
Over the years, ISRO's PSLV, has successfully performed more than 52 successful flights and the vehicle has since attained its operational status, it said.
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ISRO formed a separate entity NSIL with the primary mandate of enabling Indian industries to scale up high-technology manufacturing and production base for meeting the needs of the Indian space programme, the statement said.
"As part of its mandate, NSIL had invited Expression of Interest (EoI) on August 16, 2019, for realisation of five PSLV-XL Launch Vehicles by the Indian industry. Based on competitive bidding, HAL-led consortium emerged as the successful bidder", it was stated.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)