Russian firm UVZ and Punj Corporation Pvt Ltd (PCPL) have tied up to undertake repair and maintenance of T-72 and T-90 tank engines and radiators in India.
UralVagonZavod (UVZ), which makes main battle tanks, has also appointed PCPL as its sole representative to undertake the repair and maintenance work in India, the companies said in a joint statement today.
An agreement to this effect has been signed between both the companies in Chennai earlier this month, it said.
Indian Army and the Indian Ordnance Board would be able to meet the critical material and logistics supply gaps for T-72 and T-90 Tanks through Indian Rupee procurement.
Awadhesh Mishra, CEO of PCPL told that this agreement would result in an expected business of around Rs 1,000 crore every year as there is a big backlog of repair work of these tanks in India.
The UVZ has said that for all the maintenance and repair activities undertaken by the PCPL including supply of required spares, the UVZ would provide full technical support, personnel and ensure conformance to quality.
It said that India has over more than 4,000 tanks and its serviceability and maintenance has been a major cause of concern.
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