Link Securities | Indra and Hanwha Aerospace, a subsidiary of Hanwha Group, signed a binding agreement on Tuesday for the development of self-propelled artillery systems tailored to the needs of the Spanish Armed Forces. According to a company statement, this will provide Spain with autonomous capability and sovereignty in the design and manufacture of state-of-the-art tracked ground platforms, the digital portal Bolsamania.com reported yesterday. The planned work will require an investment of €130 million to equip Indra’s plant in Gijón with new industrial capabilities and advanced machinery, as well as a new integration plant in addition to the one in Gijón. The estimated scope of work is expected to generate 500 direct jobs and 1,000 indirect and induced jobs.
The solution that Indra will design and manufacture for the Armed Forces will consist of a tracked artillery vehicle, of which 128 units will be delivered, an ammunition resupply system (120 units), a command and control vehicle (11 units), and a recovery vehicle (21 units). The company will manufacture the vehicle chassis in Spain and equip them with its mission system, which will control the vehicle’s operation; the 360-degree vision system, the battlefield management system (BMS), and communications.
Indra will design and manufacture the command post systems entirely, integrating its own systems, and will equip it with communications systems, NBC equipment, and automatic fire suppression and explosion protection systems.
Meanwhile, Expansión newspaper reports today that no vote is scheduled on the future of Angel Escribano as Indra’s chairman at the Board of Directors, despite this being the first meeting of that body following the governance controversy with the Spanish government.
The newspaper notes that the company is expected to update its strategy in Q2 2026and that Indra will propose extending the contract until 2029 and raising the salary of the company’s CEO, José Vicente de los Mozos, by 50%, whose current contract expires in June. The executive is the architect of the current strategic plan and is expected to announce his future plans for the group today.
