HAL-L&T consortium has bagged a Rs 860 crore contract for end-to-end realisation of five Polar Satellite Launch Vehicles (PSLV) over a period of four years from the NewsSpace India Limited (NSIL).
The contract papers were exchanged on Monday between HAL-L&T and NSIL during the inaugural session of the seventh 'Bengaluru Space Expo 2022' at the Bangalore International Exhibition Centre (BIEC), Bengaluru-headquartered HAL said in a statement.
Over the years, ISRO's PSLV, has successfully performed more than 52 successful flights and the vehicle has since attained its operational status, it said.
ISRO formed a separate entity NSIL with the primary mandate of enabling Indian industries to scale up high-technology manufacturing and production base for meeting the needs of the Indian space programme, the statement said.
"As part of its mandate, NSIL had invited Expression of Interest (EoI) on August 16, 2019, for realisation of five PSLV-XL Launch Vehicles by the Indian industry. Based on competitive bidding, HAL-led consortium emerged as the successful bidder", it was stated.
