Bharat Dynamics Limited, the only DEFENCE public sector company in the country that manufactures missiles and underwater weapons for the armed forces, will be setting up a manufacturing unit inJhansiwith an of Rs 400 crore in phase-1. The company signed an MoU with the State Government through UP Expressway Industrial Development Authority for the investment in the states upcoming defence corridor.
Under the MoU, theBDLwill acquire 250 hectare land in Jhansi under a lease agreement for an initial period of 30 years, which will be extendable to up to 90 years.
The Jhansi node will be the companys sixth unit and the first one in north India. At present, BDL has four units, three of which are located in Telangana and one in Andhra Pradesh. It has also acquired land in Amravati in Maharashtra to set up its fifth unit.