Defence News India: Hyderabad based infrastructure giant Megha Engineering and Infrastructures Limited (MEIL) Monday announced its foray in the country’s ever growing defence sector as Prime Minister Narendra Modi’s government seeks to reduce the country’s dependence on imported weapons by involving private defence companies.
“The company has obtained necessary permissions to manufacture weapons, vehicles, ancillaries and arms and equipment for the defence sector,” MEIL said in a statement.
“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,” said Srinivas Bommareddy, President of MEIL.
“I am happy that Megha group is fulfilling Prime Minister’s vision and dream of Make in India initiative,” he added.
Megha Engineering said it would set up a defence manufacturing unit with a capital outlay of Rs 500 crore at various stages.
The company said it had 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.
“After careful examination of MEIL’s capabilities under various government stipulations, the Government of India issued the approvals,” MEIL said.
MEIL’s upcoming defence manufacturing unit near Hyderabad will produce ancillaries to the combat vehicles, light combat vehicles, armoured engineer recovery vehicles, armoured recovery vehicles.
The unit will manufacture missiles, multi-barrel rocket launchers, machine guns, rockets, cannons and equipment to missiles, it added.
This unit will also produce soldiers carrying vehicles (APC), infantry combat vehicles (ICV), armed multi-purpose vehicles, mine-laying vehicles, bridge laying vehicles, all- terrain light combat vehicles (ACTV).
MEIL’s IComm Tele Limited active in defence communication
MEIL group company IComm Tele Limited is already active in the defence sector, particularly in the field of manufacturing defence communications and electronics products.
IComm Tele Limited is already developing and supplying advanced communication radios, jammers, EW shelters, antennas, electronic warfare containers, wind profiles and radars.
India’s first mobile virology lab to deal with the COVID-19 epidemic was developed and launched in April by the MEIL’s group company IComm Tele Limited.
IComm is also engaged in the power distribution and transmission and solar power sector.
Megha Engineering and Infrastructures Limited (MEIL)
MEIL started its journey with the construction and infrastructure sector and expanded its wings into oil and gas, power, solar power, aviation sectors and is now entering defence equipment production.
In 2018-19, Megha Engineering and Infrastructures Limited (MEIL), reported a net profit of Rs 2,984 crore on an income of Rs 19,492 crore
MEIAL has interests in hydrocarbons, power, aviation, EV buses, irrigation and drinking water, among others and has an order book of over Rs 85,000 crore in 2018-19.