L&T Chairman Says Will Close Gun Factory Inaugurated by PM 12 Months ago
Larsen and Toubro (L&T) group chairman Mr. A.M. Naik in a video interview to CNBC TV18 yesterday said that in September this year they will close the gun factory opened 12 months ago.
In January 2019 L&T had set up the first private facility for defence equipment in India at Hazira, around 30km from Surat, to manufacture K9 Vajra self-propelled Howitzer guns. The plant for field guns was inaugurated by PM Narendra Modi.
Stating the reasons for shutdown Mr. Naik said that there is lack of future orders. L&T is ahead of schedule in delivering the current order of 100 guns but the government has not extended the order further for 180 guns as promised. This, as per Mr. Naik is due to lack of funds with the Government. Therefore, L&T would be closing down the facility after completing the current order of 100 guns.