However, the proposed shareholding and investments in the venture have not been quantified by the company.
"L&T and Samsung Techwin have joined together to offer a state-of-the-art self-propelled tracked Howitzer system, meeting the aspirations of the Indian Army for this strategically important programme," L&T Board member and President of Heavy Engineering division M V Kotwal said.
He added that the cooperation would lead to new avenues in Indian and global defence markets for both the partners.
Samsung Techwin is the original equipment manufacturer for the Korean "K9 Thunder" self-propelled Howitzer, which is the largest and most successful of the 155mm/52 calibre self- propelled artillery systems in the world today, L&T said.
As per the agreement, Samsung Techwin will provide key technologies to L&T for localisation of the K9 Thunder.
It said that during the production phase of the Indian tracked artillery programme, the joint offering would have over 50 per cent indigenous content including components like fire control system and communication system.
Besides, this phase would also include "significant" localisation of hull/turret structure and major subsystems.
"L&T also plans to set up the integration and testing facility for roll out of these guns from its world class, dedicated defence equipment facility in Talegaon, near Pune," the company said.
It added that a proposal to develop the 155mm/52 calibre tracked, self-propelled artillery, with L&T as lead partner, had been submitted last year to Ministry of Defence.(Information : Army Recognition)
