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Published on 5/09/2022 8:50:55 PM | Source: IANS

HAL-L&T consortium bags Rs 860 crore contract for PSLV

Posted in Stock Market| #India #Satellite

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Bengaluru, Sep 5 HAL-L&T consortium has bagged 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).

The contract was exchanged on Monday between HAL and NSIL during the inaugural session of the seventh Bengaluru Space Expo 2022.

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 primary mandate of enabling Indian industries to scale up high-technology manufacturing and production base for meeting the needs of the Indian space programme.

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