Power News We love to talk!
Industrial explosives manufacturer Solar Industries India has signed a pact with the Maharashtra government to set up a facility in Nagpur with an investment of Rs 1,550 crore to manufacture ammunition for Armed Forces.
The memorandum of understanding (MoU) was formalised by the company through its 100-per cent subsidiaryEconomic Explosives during the ongoing Make in India week here.
The project will come up in Nagpur, a relatively industry-deficit area of the Vidarbha region, and will generate more than 700 direct jobs.
"This association will go a long way in addressing the hollowness of ammunition being faced by the Indian Armed Forces," Chairman Satyanarayan Nuwal said.
The Solar Group entered the defence sector four years ago and set up India's first HMX plant in the private sector, a large composite propellant plant and facilities to produce various other products like Pyros and War Heads.
The subsidiary company shall be building world-class facilities to produce bi-modular charge systems (BMCS), fully-integrated rockets and a new generation of hand grenades.
"While the facilities are being established with own strength of technical manpower and knowledge base, the know-how for the products shall be obtained from Defence Research and Development Organisation," he added.
The facilities will be completed in 24 months and commercial production will start thereafter.
- What to expect from gas firms for the December quarter Read more
- Private power producers want more mines Read more
- National Green Tribunal extends time for transportation of coal in Meghalaya Read more
- Solar solutions provider d.light raises $22.5 million Read more
- Mixed response to Coal India strike, talks on Read more
- Big move in renewable energy space, Piramal group infuses Rs 1800 cr in Mytrah Energy Read more
- Diesel deregulation: Government keeps a cushion of 56 per litre Read more
- CCI dismisses complaint against Coal India, CIMFR Read more
- Solar mission: Govt to turn 20,000 jobless graduates into entrepreneurs Read more
- Green initiative: TTD to tap solar and wind power Read more