Mumbai, July 6 -- Adani Defence & Aerospace announced in a regulatory filing to the stock exchange that it will invest Rs 2,500 crore to set up what it calls South Asia's largest private-sector missile manufacturing ecosystem in Shivpuri, Madhya Pradesh.
The company stated in its regulatory filing that it broke ground for the project on Saturday. "The project will set up an advanced missile ecosystem with composite propellant and Trinitrotoluene (TNT) production at a single location, creating India's first backward-integrated private-sector capability of its kind," Adani Defence & Aerospace stated.
The project will help strengthen India's defence supply chain by combining the production of critical materials with missile system integratio...