The long-awaited production of the AK-203 is ready to start soon. Sources confirmed to Financial Express Online that on Tuesday evening, at the Defense Acquisition Board (DAC) meeting chaired by Defense Minister Rajnath Singh, approval was given to the long-term deal. date of manufacture of assault rifles at an established facility at EN HAUT.
DAC approval precedes the annual India-Russia summit early next month. Although the dates have not been officially announced, according to reports, Russian President Vladimir Putin will be in New Delhi for a working visit on December 6, 2021 and several issues related to military trade as well as regional and global issues are on today’s agenda. Summit.
How many rifles will be made?
The factory in Korwa, Uttar Pradesh, was established to manufacture these rifles as part of a joint venture. Approximately 6.71 lakhs of AK-203 7.62 × 39mm rifles will be manufactured at this factory. In 2019, India and Russia signed an Intergovernmental Agreement (IGA) which led to the formation of an Indo-Russian Rifles Private Limited (IRRPL) joint venture.
In 2018, the decision to locate the world-famous Kalashnikov rifle manufacturing plant here in India was made following talks between Prime Minister Narendra Modi and Russian President Vladimir Putin. As a result, the process of creating a joint venture was initiated.
As previously reported by Financial Express Online, Rosoboronexport recently submitted its proposals to IRRPL, as a result of which a contract had been prepared by the JV which was awaiting approval from the Indian government.
Learn more about the JV
The JV formed was between the Ordnance Factory Board (OFB) which owns 50.5 percent; Kalashnikov Concern owns 42 percent and the Russian export agency Rosoboronexport holds 7.5 percent.