Megha Engineering and Infrastructures Limited (MEIL), a city-based infra major is foraying into the defence equipment manufacturing sector and as part of that, it is setting up a facility here with an investment outlay of Rs 500 crore.
The company has obtained necessary permissions to manufacture weapons, vehicles, ancillaries and arms and equipment for the defence sector, a press release from the company said on Monday.
"To produce weapons, vehicles, ancillaries and arms, MEIL has applied for permission under Defence procurement policy 2020 which is a part of the Make in India initiative. After careful examination of MEIL's capabilities under various government stipulations, the government of India issued the approvals. MEIL group will set up a manufacturing unit with a capital outlay of Rs 500 crore at various stages," it said.
MEIL had begun 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.
MEIL group company IComm Tele Limited is already contributing to the national defence institutions in science and technology fields.
IComm is also engaged in the power distribution and transmission and solar power sector.
The company 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 IComm.
"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," Srinivas Bommareddy, President, MEIL, said.
MEIL's upcoming defence manufacturing unit will produce ancillaries to the combat vehicles, light combat vehicles, armoured engineer recovery vehicles, armoured recovery vehicles.
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).
This unit will manufacture missiles, multi-barrel rocket launchers, machine guns, rockets, cannons and equipment to missiles, it added.
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