Bhubaneswar, Jan. 4 -- The Indian Army has signed a Rs 293 crore contract with Pune-based private defence manufacturer NIBE Ltd., in collaboration with Israeli defence major Elbit Systems, for the supply of an advanced long-range rocket launcher system, 'Suryastra', under emergency procurement powers.

The system features strike capabilities of 150 km and 300 km, significantly enhancing the Army's deep-strike artillery firepower and operational reach.

The development was confirmed by NIBE Ltd. in a letter to the Bombay Stock Exchange and National Stock Exchange on Friday. The contract covers manufacturing and supply of ground equipment, accessories, ESP, and ammunition for the universal rocket launcher system, capable of integrating mult...