 "VEM Tech inks deal with Telangana for Rs 1,000 cr integrated defence unit")
Hyderabad-based VEM Technologies, which is into aerospace and defence technologies, signed a memorandum of understanding (MoU) with the Telangana government on Sunday to set up an integrated defence systems facility at Yelgoi in Telangana.
The Yelgoi unit, first of its kind in the country and having the end to end infrastructure for assembly, integration and testing of the systems, will see an investment of around Rs 1,000 crore and might create around 2,000 jobs over the next five years.
The deal was signed between the company's Chairman and Managing Director V Venkata Raju and Jayesh Ranjan, principal secretary to the Government of Telangana, in the presence of KT Rama Rao, industries minister, Government of Telangana.
VEM is one of the largest production partners for Akash, LRSAM/MRSAM, Astra and BrahMos missile programmes supplying various systems and subsystems. VEM supplies "centre fuselages" to the country’s prestigious light combat aircraft, Tejas production programme.
The Yelgoi unit, first of its kind in the country and having the end to end infrastructure for assembly, integration and testing of the systems, will see an investment of around Rs 1,000 crore and might create around 2,000 jobs over the next five years.
The deal was signed between the company's Chairman and Managing Director V Venkata Raju and Jayesh Ranjan, principal secretary to the Government of Telangana, in the presence of KT Rama Rao, industries minister, Government of Telangana.
VEM is one of the largest production partners for Akash, LRSAM/MRSAM, Astra and BrahMos missile programmes supplying various systems and subsystems. VEM supplies "centre fuselages" to the country’s prestigious light combat aircraft, Tejas production programme.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%