India News | HAL-L&T Consortium Bags Rs 860 Crore Contract for PSLV

Bengaluru (Karnataka) [India], September 5 (ANI): HAL-L&T consortium bagged an Rs 860 crore contract for the end-to-end realisation of five Polar Satellite Launch Vehicles (PSLV) over a period of four years from the NewsSpace India Limited (NSIL).

The contract was exchanged today between HAL and NSIL during the inaugural session of the 7th Bengaluru Space Expo 2022 at the Bangalore International Exhibition Centre (BIEC), said a press release issued here on Monday.

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Over the years, ISRO's PSLV has successfully performed more than 52 successful flights and the vehicle has since attained its operational status. ISRO formed a separate entity NewSpace India Limited (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, as per the statement.

As part of its mandate, NSIL invited Expression of Interest (EoI) on August 16, 2019, for the realization of five PSLV-XL Launch Vehicles by the Indian industry. Based on competitive bidding HAL led consortium emerged as the successful bidder. (ANI)

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(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)