India News | Ordnance Factories Corporatisation: Govt to Launch 7 New Companies on Oct 15
Get latest articles and stories on India at LatestLY. As part of the corporatisation of the Ordnance Factories, the Central government will formally launch seven new companies on October 15, informed the Ministry of Defence on Monday.
New Delhi [India], October 12 (ANI): As part of the corporatisation of the Ordnance Factories, the Central government will formally launch seven new companies on October 15, informed the Ministry of Defence on Monday.
The government is converting Ordnance Factory Board (OFB) into corporate entities.
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These seven new defence companies will have 66 firm contracts worth Rs 65,000 crore from the three services and paramilitary forces.
The new companies are - Advanced Weapons and Equipment India Limited, Troop Comforts Ltd, Avani Armoured Vehicles, Munitions India Limited, India Optel Limited, Gliders India Limited, Yantra India Limited. (ANI)
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(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)