In a big boost to the 'Make in India' initiative, the defence ministry has signed contracts worth Rs 2,580 crores with Indian companies to supply six army regiments with Pinaka missiles.
The acquisition wing of the ministry of defence signed contracts with Bharat Earth Movers Ltd, Tata Power Company Ltd, and Larsen & Toubro on August 31, a statement from the ministry said.
The six Pinaka Regiments comprise of 114 Launchers with automated gun aiming and positioning system and 45 command posts to be procured from M/s TPCL and M/s L&T, and 330 vehicles to be procured from M/s BEML.
These will be operationalised along the northern and eastern borders, and their induction is planned to be completed by 2024.
The project has been approved by defence minister Rajnath Singh, and finance minister Nirmala Sitharaman.
The Pinaka multiple launch rocket system has been indigenously designed by the DRDO and it is produced by the industries named above in a flagship project showcasing public-private partnership.