Defence

German firm keen to invest in defence corridor

Under its ‘Invest UP’ initiative, the state government on Monday held an interaction with German defence manufacturing company Rheinmetall which has expressed interest in investing in upcoming defence corridor in UP.

The company specialises in manufacturing of automotive parts, military vehicles, autocannons, anti-aircraft defence systems, artillery, mortars, tank guns, munitions, ammunition, fuze systems (part of a device that initiates function) and electronics.

The government will provide potential investment locations to the company through Google Map, details of land banks, infrastructure around each plot and the policy incentives available that will be offered to them.

In the virtual meeting, led by MSME minister Sidharth Nath Singh, discussions were held on the investment potential in UP. The German company was represented by CEO of Rheinmetall Electronics Division Susanne Wiegand and CEO of Rheinmetall Air Defence Fabian Ochsner.

Singh informed the potential investors that besides manpower, UP provides abundant infrastructure in the form of expressways, highways and airports.

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