India's L&T To Invest $154M On Missile Systems and Battle Tank Plants

Larsen & Toubro Limited, India's engineering conglomerate is looking to invest INR 500 crore (US$77 million) on the missile systems facilities which will be built in Indian states of Tamil Nadu, Maharashtra or Gujarat.

"We are looking at Tamil Nadu, Maharashtra and even Gujarat to set up the missile and missile systems plant, which would involve an outlay of around Rs 500 crore. The location of the plant depends on the incentives these state governments would offer," Jayat D. Patil, member of the Board and Whole Time Director (Defence Business) L&T said during the launch function of the Offshore Patrol Vessel (OPV) at thefirm's Kattupalli shipyard in Chennai.

Patil was quoted as saying by Economic Times that his company would also build a battle tank plant at Hazira in Gujarat, adding that both the projects would involve an outlay of around Rs 1,000 crore (US$154m).

“The company has been supplying a major portion of the missile systems and it was a natural extension for the company to get into manufacturing the entire systems,” Patil said.

L&T and the French major MDBA had earlier in the year announced the 51:49 joint venture to collaborate and partner on co-development and production of major subsystems involving complex technologies and sophisticated weapon systems such as MICA missile launchers and airframe segments including control actuation units for Indian MoD orders.