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The state-owned Heavy Engineering Corporation (HEC) is holding talks with the Tata Industrial Services Ltd (TISL) for forging alliance with global equipment manufacturers to address the growing needs of the Indian defence sector.
To begin with, TISL will act as a facilitator and the alliance with the global defence equipment players could be in the form of technology transfer.
Currently, HEC manufactures equipment for the steel and mining sector. Howevr, it plans to move away from these areas and focus on nuclear, space and defence segments. In the current deal with TICL, equity participation can happen later if HEC feels need for a separate firm.
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