In order to make defence equipment, Gurgaon based Punj Lloyd, an engineering, procurement and construction specialist, has signed up a collaboration contract with Singapore Technologies Kinetics.

However, the financial details of the deal were not disclosed up till now.
 
The Indian Government issued Punj Lloyd a license for making guns, rockets and missile artillery systems and related equipment in addition to other defence equipment.

Under this deal, both ST Kinetics and Punj Lloyd will share up their resources for the implementation of supply agreements for the Ministry of Defence, Government of India.

The affiliation augurs well for the high growth Indian Defence segment. The combined capacities of both the companies can assist the Indian Army to widen its modernization plans.

ST Kinetics makes small arms and munitions for the Singaporean army, apart from other military products to US or NATO specifications for export. The company has divisions in the US, Canada and China.

Earlier this week, Punk Llyod declared a 74 percent acquisition in Britain’s Technodyne International Ltd, an engineering designing and consultancy firm, for an undisclosed amount.

At 1:40 pm, shares of the company gained 2.1%, to trade at Rs 283.80 on the Bombay Stock Exchange (BSE).