Punj Lloyd Ltd (through its wholly-owned subsidiary Punj Lloyd Industries Limited) and its JV partner Israel Weapon Industries (IWI) has inaugurated the country’s first private sector small arms manufacturing plant at Malanpur in Madhya Pradesh.
According to Business Standards, the JV company, Punj Lloyd Raksha Systems Pvt Ltd, will manufacture small arms in the plant for the Indian defence forces and also for exports.
Punj Lloyd diversified into defence sector by setting up a manufacturing unit at Malanpur with an estimated investment of Rs 2 billion for fabrication and assembly facility for defence systems, primarily small arms. For this, it had formed a JV with Israel Weapon Industries (IWI), a part of SK Group that manufactures innovative small arm systems.
IWI designs and develops technologically advanced systems for military, homeland security and commercial agencies worldwide. IWI product ranges are deployed in close collaboration with the Israel Defense Forces (IDF), seeking technological innovation, manufacturing excellence and outstanding performance.
