Leading electronic devices maker Alpha Design Technologies Ltd on Thursday announced signing a $30 million (Rs 201 crore) deal with Elbit Systems of Israel to jointly upgrade MI - 17 helicopters of the Indian Air Force (IAF).
"The offset contract involves upgrading 90 MI - 17 helicopters of the IAF by manufacturing smart displays, new cockpit, transponder, digital voice recorder, missile launch detection systems (MILDS), cables and brackets, " said the company in a statement at the Aero India 2017 expo here.
The city - based company manufactures MILDS in collaboration with global aerospace major Airbus Industries of France, as part of the state - run Defence Research and Development Organisation (DRDO)'s project for upgradation of helicopters.
"We have produced and supplied 469 MILDS as part of Cheetah helicopter upgrade of the Army Aviation Corps during 2015 - 16, " said Alpha Chairman Colonel H. S. Shankar in the statement.
Asserting that the offset contract reinforced the company's commitment to providing best defence technologies to the armed services, Shankar said Alpha would hope to get more such deals as upgrades of Ka226, LCH, ACH, Chinook and Apache helicopters were on anvil.
The company has supplied defence electronics equipment valued at $100 million over the past five years and has $250 - million order book for the next three years.
The company had a turnover of Rs 402 crore in the last fiscal 2015 - 16.