Article Posted on : - Apr 28, 2010

A File Photo.

NEW DELHI (PTI): Government of India recently said the Ordnance Factory Board (OFB) has produced defence equipment worth Rs 20,560 crores in the last three years and was planning to invest Rs 3,807 crores for modernisation of its plants and machinery.

"The quantum of defence production made by OFB during last three years is Rs 20,560 crores," Minister of State for Defence, M M Pallam Raju, said in reply to a Lok Sabha query.

The Minister added that Army and Home Ministry have indicated their long-term requirements, which are substantially higher than the present production level of the OFB.

Raju said the planned investment for modernisation of OFB factories during the 11th and 12th Plan period was Rs 3,807.50 crores.

Answering another query, the Minister said foreign defence manufacturers such as the French Thales, British BAE Systems, Israeli Elta along with three Mauritian companies have made Foreign Direct Investment of Rs 404 million in Indian companies.

The Indian companies include Samtel Display System, Mahindra and Mahindra, HBL Power Systems and Taneja Aerospace.