UPEIDA-Bharat Dynamics Limited Ink MoU For Rs 400 Crore Investment In UP Defense Industrial Corridor's Jhansi Node
Lucknow, August 6 (TNA) An MoU for investment of Rs 400 crore for Jhansi node of the UP Defence Corridor was inked between the UPEIDA and Bharat Dynamics Limited (BDL) of Madhya Pradesh on Thursday, in presence of chief minister Yogi Adityanath.
Avanish Kumar Awasthi, Chief Executive Officer, UPEIDA and NP Diwakar, Director (Technical), Bharat Dynamics Ltd. exchanged MoUs. Under this MoU, a construction unit will be set up in the Uttar Pradesh Defense Industrial Corridor by Bharat Dynamics Limited, an undertaking of the Government of India under the Ministry of Defense.
Under the first phase, this construction unit will be set up in 250 hectares of land in Jhansi with an investment of Rs. 400 crore. BDL is a public sector company in the field of defense, which manufactures missiles and underwater weapons and airborne products for the Armed Forces.
Establishment of manufacturing unit of BDL as well as installation of subsidiary units of MSME will also be promoted.
CEO UPEIDA Avanish Kumar Awasthi, while welcoming the initiative of BDL, said that the establishment of a construction unit in the UP Defense Industrial Corridor would promote capital investment and development of infrastructure facilities in the Defense Corridor.
Expressing gratitude to Chief Minister Yogi Adityanath ji, CMD Commodore Siddharth Mishra of BDL said that simplified policies have been implemented by the State Government for setting up of industries.
He also informed that unit of BDL would be operational from 2023 and through it employment opportunities would be created on a large scale in the region.