BEL signs MoU with Israel Aerospace Industries Public sector defence major Bharat Electronics Limited India ( BEL ) on Monday said the company has signed a Memorandum of Understanding (MoU) with Israel Aerospace Industries Ltd. (IAI). According to the MoU, both the partners will work together on the future of Long Range Surface to Air Missile (LR-SAM) ship defence system projects. The LR-SAM is an over $500million joint venture with Israel. This will help the Indian Navy to protect its warships from incoming enemy cruise missiles and fighter aircrafts. For many years IAI has been engaged in joint development programmes with the DRDO and Indian defence industries for the Indian Navy and Indian Air Force, including joint manufacturing of sub-systems. The MoU lays out framework for BEL-IAI cooperation, under which BEL will function as the lead integrator and produce major sub-systems.IAI will continue to act as design authority and to produce sub-systems as a main sub-contractor of BEL. â€œWe see IAI as a strategic partner with a wide range of potential joint activities. ThisMoU demonstrates that BEL and IAI can work closely together on the most sophisticated and advanced programs, for the mutual benefit of both companies. We will continue to operate under the active support and guidance of the DRDO,â€ Ramakrishna, Director, Marketing of BEL, said.