Premier Explosives partners with French firm Nexter
Premier Explosives (PEL) and the French defence company Nexter have decided to tie-up for manufacturing Bi-Modular Charge Systems (BMCS) in order to respond to the needs of the Indian Ministry of Defense.
The partners responded to the BMCS RFP (Request for Proposal) relative to a 10-year contract manufacturing of the product, locally. The contract will benefit from the combination of Nexter experience with the pyrotechnics knowledge of PEL.
BMCS are propellants required for firing high-calibre artillery guns. The proposed product is 100 per cent designed within NEXTER Group in accordance with the Indian technical requirements. Through a long-term partnership, PEL and Nexter have agreed to build India's first private manufacturer of ammunition. This project responds to the Indian government objective to develop a private robust source of ammunition.
Currently, the company operates in the category of industrial explosives. The company's total operating revenue was Rs. 230.72 crore and equity capital was Rs. 8.86 crore for the year ended March 31, 2017.