"Zen Technologies and Government of Goa Ink MoU for Establishing R&D Facility in the State"

Zen Technologies Limited, a leading provider of simulators for weapons and defense equipment, has entered into a Memorandum of Understanding (MoU) with the government of Goa to establish a state-of-the-art Research and Development (R&D) facility in the region. The new facility, set to be located at the Electronic Manufacturing Cluster (EMC) Tuem in Goa, will be developed at an estimated cost of Rs 50 crore and is anticipated to generate employment opportunities for approximately 800 individuals.

This strategic move is aimed at enhancing Zen Technologies' manufacturing capabilities, particularly in the realms of cutting-edge simulators and drone-related technologies. The company expressed its commitment to the local economy and the overall development of the region by involving Goan micro, small, and medium enterprises (MSMEs) in the development and sourcing of sub-assemblies for the facility.

In an official statement, the company highlighted the symbiotic relationship between the new facility and the EMC, stating, "The new facility will serve as an anchor unit for the EMC, with plans to develop and source sub-assemblies from Goan micro, small and medium Enterprises (MSMEs). This symbiotic relationship is expected to boost the local economy and contribute to the overall development of the region."

Following the establishment of the facility, Zen Technologies is poised to expand its manufacturing base, reinforcing its commitment to growth and expansion. The facility is envisioned to function as an operational hub, supporting both domestic operations and a measured expansion of the export business.

The press release emphasized the company's proactive approach to business growth and resilience, stating, "In light of the strong demand visibility and to mitigate geographical risk, Zen Technologies has decided to proceed with this expansion. This strategic development will not only fortify the company's manufacturing presence but also diversify its operational landscape, underlining a proactive approach to business growth and resilience."

This announcement comes on the heels of Zen Technologies securing a significant Rs. 100 crore order from the Ministry of Defence for its advanced force-on-force tank training system last month. In September, the company also received orders worth Rs. 227.65 crore for anti-drone systems from the Ministry of Defence, in addition to a separate order worth Rs. 202 crore from the defense ministry.

BS