Shirdi, May 25 -- Nibe Group signed a joint venture with Elbit Systems, Israel for the establishment of advanced energetic materials and propellant manufacturing facilities in India.

The Parties intend to establish a New Company to manufacture and supply of strategic defence products in India, in alignment with the Government of India's "Make in India" and "Atmanirbhar Bharat" initiatives.

The proposed product portfolio includes Nitro Cellulose, Nitro Glycerine, Single Base Propellant, Double Base Propellant, Triple Base Propellant.

Under the proposed framework, Elbit is expected to provide technical know-how and related support, while GDIL / Nibe Group shall undertake establishment, investment, and operational responsibilities for the...