AMSL signs pact with Telangana govt to invest Rs 1,500 cr

New Delhi, Dec 9 (PTI) Infra tech solutions provider Apollo Micro Systems Ltd (AMSL) on Tuesday announced the signing of an initial agreement with the Telangana government to invest Rs 1,500 crore in manufacturing defence products.

A memorandum of understanding was signed in Hyderabad on Monday, AMSL said in an exchange filing.

Under this MoU, AMSL, along with its subsidiaries and step-down subsidiaries, will establish a greenfield project in Telangana.

The proposed project, with an estimated investment of approximately Rs 1,500 crore, aims to expand the company's manufacturing and explosive filling capabilities.

The project will focus on the manufacturing and filling of warheads, rocket motors, small, medium and large-calibre artillery systems and ammunition, and building of complete ammunition systems for artillery, rockets and other armaments.

It will cater to both domestic and overseas demand requirements.

The Telangana government will extend facilitation to AMS in obtaining all necessary permissions, registrations, approvals, clearances, and applicable fiscal incentives from the concerned state departments, in accordance with existing policies, rules, and regulations as stated in the MoU.

Hyderabad-based AMSL offers technology-based solutions in sectors like infrastructure, transportation, aerospace and defence, among others. PTI ABI SHW