India’s Adani unveils defence complex, $362mn investment plan ...Middle East

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India’s Adani unveils defence complex, $362mn investment plan
BENGALURU: Billionaire Gautam Adani’s group plans to invest more than 30 billion rupees ($362.1 million) in the manufacturing of ammunition and missiles, the conglomerate’s defence arm said on Monday, as it unveiled two sprawling production facilities in the north Indian state of Uttar Pradesh. The plans highlight the ports-to-power conglomerate’s ambitions in the lucrative defence sector where manufacturing is largely dominated by government-owned companies. Adani Defence & Aerospace will manufacture a “full spectrum of ammunition” for India’s armed forces, paramilitary forces and police at the facilities spread over 500 acres, creating more than 4,000 jobs, it said in a press release. In

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