A model of the Black Shark on display at an exhibition while a shot, from Finmeccania, being put on a submarine on 28 Jan. 2014.
Rome-headquartered Finmeccania, close to signing a contract with India for the supply of 98 torpedoes, plans to transfer technologies to local companies for manufacturing of defence products.
It expects to sign a contract with Ministry of Defence for the supply of torpedoes already selected by the Indian navy, according to an industry source.
“Finmeccanica is ready to work with Indian companies and is ready transfer technologies. It would want Indian companies be prime contractors in bidding for projects,” the source said.
It is studying the Defence Procurement Procedure (DPP) which was announced by Defence Minister Manohar Parrikar on March 28, 2016, at the Defexpo held in Goa.
Currently, Finmeccanica has a tie-up with Bharat Dynamics Ltd, and a large footprint in several defence projects. fii-news.com
