Adani Group's Rs 3,000 Crore Investment On Mega Ammunition Factories
NDTV
The factories will produce 150 million rounds of ammunition annually - roughly a quarter of India's requirements - and cater to the diverse needs of the Indian Armed Forces.
Billionaire Gautam Adani's conglomerate started two defense facilities in northern India this week at an investment of Rs 3,000 crore ($362 million), bolstering the country's campaign to become self-reliant and promote local manufacturing.
Built by Adani Defence & Aerospace, a closely held firm in the Adani Group, at Uttar Pradesh's Kanpur across 500 acres, these factories will produce small, medium and large caliber ammunition for the armed forces, paramilitary forces and police, according to Karan Adani, founder's son who's overseeing the fledgling defense business.
The factories will produce 150 million rounds of ammunition annually - roughly a quarter of India's requirements - and cater to the diverse needs of the Indian Armed Forces, he said during the inauguration on Monday.
