New Delhi, Dec 23 (UNI) Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh on Tuesday cleared a project for manufacturing 7.5 lakh AK-203 assault rifles, worth around Rs 5,000 crore, sources said. The clearance comes ahead of Russian President Vladimir Putin's visit to India scheduled for December.
The proposal, which has been pending for long, entails manufacturing of the assault rifles in India, in Amethi of Uttar Pradesh by the Indo-Russia Rifles Private Limited (IRRPL). It is a joint-venture of the Ordnance Factory Board of India and Kalashnikov Concern and Rosoboronexport of Russia.
A contract for the project is likely to be signed during the visit of the Russian president.
The AK-203 will replace the INSAS rifles of the Indian Army. Out of the 7.5 lakh rifles that will be manufactured, 6.7 lakh will be for the Indian Army.
UNI AO SHK2059