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. 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.
“This is the first opportunity for the country to get its own 'Made in India' small arms. The need of the hour is to replace the country's defence weapons with sophisticated and high precision products and Punj Lloyd Raksha Systems is the answer to the country's immediate need. These are tried and tested battle proven products already being used within the country. It is the first time in India that we are coming together with the complete technology to manufacture these products as Made in India,” commented Atul Punj, chairman, Punj Lloyd.
Known for executing infrastructure projects, Punj Lloyd diversified into defence sector by setting up a manufacturing unit at Malanpur with an estimated investment of Rs 200 crore 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.
Samy Katsav, chairman, SK Group, said, "Through this collaboration, we offer the combination of battle proven combat technology of IWI and the proficiency of a renowned Indian business partner. I am extremely upbeat about the opportunities in the sector and confident of contributing to the Make in India programme."
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.
"Israel's Ministry of Defence fully and wholeheartedly supports this cooperation and will continue to support the transfer of technology and information also in the future, for the betterment of improved advanced tools. Israel and India consider their defense industry cooperation as a monumental step forward, towards a future of immense potential," said Michel Ben-Baruch, head of SIBAT, Israel Ministry of Defence.
