HFCL to invest ₹230 crore to set up defence manufacturing facility in Andhra Pradesh
New Delhi: Telecom gear maker HFCL on Thursday said it will invest approximately ₹230 crore to establish a new defence manufacturing facility in Andhra Pradesh.
The plant will come up in the Sri Satya Sai District of the state, HFCL said in a filing to the stock exchanges.
“The Board of Directors…has approved the establishment of a defence manufacturing facility for the manufacture of Multi-Mode Hand Grenade (MMHG) and similar other products in Sri Satya Sai District of the State of Andhra Pradesh at a total initial capital outlay of ₹230 crore,” HFCL said.
