State-owned BHEL on Friday said it has entered into a pact with Bharat Electronics Ltd to develop and market products, systems and sensors for defence and non-defence applications. "A memorandum of understanding (MoU) was signed between Bharat Heavy Electricals Ltd (BHEL) and Bharat Electronics Ltd (BEL) during DEFEXPO 2020 at Lucknow," BHEL said in a filing to the BSE.
The pact aims at leveraging the complementary strengths and capabilities of BHEL and BEL to develop and market products, systems and sensors for defence and non-defence applications, the filing added. The MoU will also enable BHEL and BEL to make joint efforts to explore markets for products individually developed or jointly developed by both companies, it added.
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