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Bharat Forge invests $29M in defence ammunition facility
Bharat Forge pours $29M into defence ammunition facility to boost local production.
In brief
Bharat Forge pours $29M into defence ammunition facility to boost local production. Bharat Forge invests $29M in Kalyani Strategic Systems Ltd to build ammunition facility for domestic production. Originally reported by Dealroom.
Investment details
Bharat Forge will invest US$32.6M in its defence subsidiary Kalyani Strategic Systems Ltd.
Facility setup
KSSL channels up to US$22.1M into Agneyastra Energetics Ltd to build ammunition filling facility.
Timeline and purpose
AEL must complete facility by September 30, 2027 to support Bharat Forge's defence order book of US$1.52B.
The key point
Bharat Forge invests $29M in Kalyani Strategic Systems Ltd to build ammunition facility for domestic production.
