Business News | Adani Defence Lays Foundation for South Asia's Largest Private Missile Ecosystem in Madhya Pradesh, to Invest Rs 2,500 Crore
Get latest articles and stories on Business at LatestLY. Adani Defence & Aerospace on Sunday laid the foundation for South Asia's largest private-sector missile ecosystem and announced a Rs 2,500 crore investment to establish this state-of-the-art facility in Madhya Pradesh's Shivpuri, with Jeet Adani, Director of Adani Defence & Aerospace, saying it will help replace "foreign dependency with domestic power."
Shivpuri (Madhya Pradesh) [India], July 5 (ANI): Adani Defence & Aerospace on Sunday laid the foundation for South Asia's largest private-sector missile ecosystem and announced a Rs 2,500 crore investment to establish this state-of-the-art facility in Madhya Pradesh's Shivpuri, with Jeet Adani, Director of Adani Defence & Aerospace, saying it will help replace "foreign dependency with domestic power."
Addressing the ceremony, Adani said, "Shivpuri is the next giant leap in that journey as we bring a full-range, integrated missile ecosystem to manufacture medium- to long-range missile systems, replacing foreign dependency with domestic power." He added, "But we are going deeper than just assembly. We are establishing composite propellant manufacturing as well as TNT and explosive-grade material production."
Speaking about the scale of the project, he said, "Over the next three years, we will build this state-of-the-art facility with an investment of Rs 2,500 crore, creating 5,000 direct and indirect jobs and drawing over 50 MSMEs into a highly specialized supply chain."
Calling the project a landmark for the company, Adani said, "This facility will bring raw materials and mission-ready missiles under one roof -- a historic first outside the public sector."
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On the company's defence manufacturing plans, he said, "We are promoting indigenisation, working closely with the DRDO and the Armed Forces to systematically reverse India's dependency on imports."
Referring to the company's existing defence manufacturing operations in the state, Jeet Adani said, "Gwalior gave Madhya Pradesh its first taste of serious defence manufacturing. Today, that complex manufactures our entire portfolio of Light Machine Guns, Assault Rifles and Carbines." He added, "Our Light Machine Guns (LMG) programme alone has already delivered 2,000 units to the Armed Forces -- 11 months ahead of schedule!"
He said the Shivpuri project would strengthen the state's role in defence manufacturing, adding, "Together, Gwalior and Shivpuri will stand as twin engines of defence innovation in Madhya Pradesh. They will ensure that the advanced systems protecting our skies are proudly built by Indian hands, on Indian soil." (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)