Hyderabad, June 13 (IANS) Bharat Dynamics Ltd (BDL) has signed a contract worth Rs. 1,187.82 crore for supply of heavy weight torpedoes to the Indian Navy, an official statement said on Thursday.
The contract was signed by N.P. Diwakar, Director (Technical), BDL and Nidhi Chhibber, Joint Secretary and Acquisition Manager (Maritime & Systems) in the Defence Ministry in New Delhi, according to the statement.
The execution of contract will be in next 42 months. The weapon will be manufactured at BDL's Visakhapatnam Unit under collaboration with the Defence Research and Development Organisation (DRDO).
The heavy weight torpedo or the 'Varunastra' is a ship-launched, electrically propelled underwater weapon equipped with one of the most advanced automatic and remote controlled guidance systems. The weapon system uses its own intelligence in tracing the target, it added.