Permission sought under DPP 2020
Megha Engineering and Infrastructures Limited (MEIL) has obtained the permissions to manufacture weapons and equipment for the defence sector by setting up a manufacturing facility at Jeedimetla, Hyderabad, an investment of Rs.500 crore.
MEIL has applied for permission under Defence procurement policy 2020 which is a part of the Make in India initiative to produce weapons, vehicles, ancillaries and arms.
It has received the approvals from the Ministry of Home and Ministry of Commerce and Industry to establish the facility.
The upcoming MEIL’s defence manufacturing unit will produce ancillaries to the combat vehicles, light combat vehicles, armoured engineer recovery vehicles, armoured recovery vehicles.
The unit will also produce soldiers carrying vehicles (APC), infantry combat vehicles (ICV), armed multi-purpose vehicles, mine-laying vehicles, bridge laying vehicle, all-terrain light combat vehicle (ACTV). This unit will manufacture missiles, multi-barrel rocket launcher, machine guns, rockets, cannons and equipment to missiles.
After careful examination of MEIL’s capabilities under various government stipulations, the government issued the approvals, said MEIL statement on 15 June 2020.
The manufacturing unit will be set up in various stages.
Established in 1989, MEIL has begun its journey with the construction and infrastructure sector and expanded its wings into oil and gas, power, solar power, aviation sectors and now entering the defence equipment production.
“With the necessary approvals in place, Megha group is setting up most modern manufacturing facilities to produce various cutting-edge defence equipment indigenously at our upcoming new facility at Hyderabad. I am happy that Megha group is fulfilling Hon’ble Prime Minister’s vision and dream of Make in India initiative,” said Srinivas Bommareddy, President, MEIL. fiinews.com
