Kalyani group firm Bharat Forge today said it is developing a new artillery gun, mainly for supply to the Indian Army and has earmarked an initial investment of Rs 100 crore.
"We are developing a towed gun of 155/52 caliber mainly for the supply to the Indian Army. We have already responded to a tender for supplying this gun," Bharat Forge Executive Director Amit D Kalyani told reporters at the Defence Expo here.
The company has already set up facility in Pune and the technology is being developed in association with "some European players".
When asked about the investment, Kalyani said: "We have initially committed Rs 100 crore only on development. If we win the tender we will need another dedicated line of investment for the assembly line."
He said the company has currently engaged about 60 people for the development of the artillery gun.
The company's revenue from the defence business stands at about Rs 200 crore per annum.
