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Hindujas apply for licence to make armaments, ordnance
Cleared in the Bofors case, the Hindujas are poised to enter India's defence and homeland security hardware manufacturing with plans to make guns, rockets and missile systems, among others, to "enable the country to be self-sufficient in manufacture of defence equipment".
Ashok Leyland Defence Systems Ltd (ALDS), a company floated in 2008 by the Hinduja Group, has applied for FIPB license for "manufacture and maintenance of guns, rockets and missile artillery systems to include carriage, control systems and other allied subsystems" at a factory in Sriperambadur.
It said it would invest Rs 10 crore in a manufacturing facility (excluding land and buildings) with a second-phase outlay of Rs 50 crore when it would go beyond its existing business of design, development and manufacture of medium-duty defence vehicles.
The facility would also manufacture and assemble armoured combat vehicles including associated systems such as turrets, armaments. That's not all. It has sought government approval to manufacture defence and defence-related equipment "including but not restricted to the above categories" with its existing foreign direct investment.
In its application to the Foreign Investment Promotion Board, ALDS said: "Contemporary and future technology will be obtained which would later give rise to creation of R&D facilities, ensuring that our security forces always have the edge necessary to maintain supremacy in modern warfare."
ALDS, which has a pact with South Africa's Paramount Group in February 2010 for manufacturing mine protected vehicles in India, last year signed an MoU with Germany's Krauss-Maffei Wegmann GmbH to develop artillery systems, combat systems, armoured wheeled vehicles, recovery vehicles, bridge laying systems and other similar products.
Hindujas apply for licence to make armaments, ordnance - Indian Express
Cleared in the Bofors case, the Hindujas are poised to enter India's defence and homeland security hardware manufacturing with plans to make guns, rockets and missile systems, among others, to "enable the country to be self-sufficient in manufacture of defence equipment".
Ashok Leyland Defence Systems Ltd (ALDS), a company floated in 2008 by the Hinduja Group, has applied for FIPB license for "manufacture and maintenance of guns, rockets and missile artillery systems to include carriage, control systems and other allied subsystems" at a factory in Sriperambadur.
It said it would invest Rs 10 crore in a manufacturing facility (excluding land and buildings) with a second-phase outlay of Rs 50 crore when it would go beyond its existing business of design, development and manufacture of medium-duty defence vehicles.
The facility would also manufacture and assemble armoured combat vehicles including associated systems such as turrets, armaments. That's not all. It has sought government approval to manufacture defence and defence-related equipment "including but not restricted to the above categories" with its existing foreign direct investment.
In its application to the Foreign Investment Promotion Board, ALDS said: "Contemporary and future technology will be obtained which would later give rise to creation of R&D facilities, ensuring that our security forces always have the edge necessary to maintain supremacy in modern warfare."
ALDS, which has a pact with South Africa's Paramount Group in February 2010 for manufacturing mine protected vehicles in India, last year signed an MoU with Germany's Krauss-Maffei Wegmann GmbH to develop artillery systems, combat systems, armoured wheeled vehicles, recovery vehicles, bridge laying systems and other similar products.
Hindujas apply for licence to make armaments, ordnance - Indian Express