Megha Engineering (MEIL) will invest Rs 500 crore to set up defence manufacturing unit

Share

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.

READ: Airbus appoints Anand Stanley as President of Airbus Asia-Pacific

“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).

READ: Dr Vivek Lall appointed Chief Executive of General Atomics

MEIL Megha Engineering Defence

IComm Tele produces defence communication equipment.

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.

READ: Make in India: India reserves 26 items only for local defence companies

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.

READ: General Atomics bags major engineering support contract for Ford Class aircraft carriers

READ: Tata Power SED to modernise India’s military airfields in a $160 million contract

Defence Star, (www.defencestar.in) India’s leading defence news portal, is also available on Twitter, Facebook, LinkedIn, Instagram, and YouTube.

Comments are closed.