India News | Chhattisgarh Inks Rs 87.50-cr MoU with Private Firm for Unit

Raipur, Aug 17 (PTI) The Chhattisgarh government on Monday signed a Memorandum of Understanding (MoU) with a private firm for setting up a defence equipment manufacturing unit in Durg district with an investment of Rs 87.50 crore, an official said.

As per the agreement, the company, Atmastaco Ltd, Durg, will manufacture bullet-proof jackets and helmets for the Indian Army, paramilitary forces and the state police, the public relations department official said.

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Principal Secretary (Industry Department) Manoj Kumar Pingua and Managing Director of Atmastaco, S Swaminathan, signed the MoU in the presence of Chief Minister Bhupesh Baghel here, he said.

Industry Minister Kawasmi Lakhma was also present on the occasion.

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The company will set up the manufacturing unit in Birebhat village of Durg district with an investment of Rs 87.50 crore, the official said, adding the facility will generate employment for 150 people.

In the first phase, it will manufacture one lakh bullet-proof jackets and an equal number of helmets, he said.

On the occasion, Pingua informed that under its new industrial policy, the state government has accorded top priority to setting up industries related to the defence sector.

The new unit will be operational by November, Swaminathan said.

Atmastaco has an experience of 35 years in manufacturing high-quality engineering equipment and heavy fabrication, he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)