Saab strengthens position in India with Pipavav investment

Saab, a specialist in defence and security, has signed a Memorandum of Understanding (MoU) regarding a strategic investment in Indian company Pipavav Defence and Offshore Engineering in order to strengthen Saab’s position in the country.

In addition, the companies have signed a Technical Partnership Agreement, a continuation of co-operation between the two parties covering details about further co-operation and relevant projects.

The MoU covers an investment by Saab of around MSEK250 (£23.9m) through a suitable structure, subject to all necessary approvals, during the coming months.