The Saab official revealed, "I am glad to announce our contribution to Make in India government program through our agreement with KSSL
and the Kalyani Group to establish a joint venture company in India for the air defense programs.
But Jarvis recently sold its shares in KSSL to investment company Secondary Market Infrastructure Fund.
A spokesman for Jarvis said that since selling its shares in KSSL, it was simply a contractor carrying out facilities management services and working within overall control of KSSL.
The Head of Saab Business Area Dynamics Gorgen Johansson revealed, I am glad to announce our contribution to Make in India through our agreement with KSSL and the Kalyani Group to establish a joint venture company in India for the Air Defence Programmes.
The Swedish company along with KSSL has already started preparations to transfer technologies for various packages within the programme.
To secure production quality, orders of missile parts have already been issued to KSSL and production-readiness reviews are ongoing.
KSSL is the principal company of the Kalyani Group formed for undertaking defence & aerospace business initiatives by leveraging the Groups renowned and distinguished design, engineering and manufacturing expertise.
A fortnight ago, concerns were raised with KSSL
about the slow progress at Greenside.
Jarvis owned a 35% share of KSSL - the rest was owned by Barclays Bank and Kirklees Council.
If SMIF take over Jarvis's shares, the proportion of KSSL owned by each party is not expected to change and Kirklees Council will still be responsible for overseeing the future of the contract.
It was told that an investment fund manager which acquired an interest in Jarvis's shareholding in KSSL now wished to take up an option to take over Jarvis's shares in KSSL, and needed the council's consent.
It will mean that Jarvis will no longer be a part of KSSL, which will take responsibility for the maintenance contract and associated works.