Punj Lloyd signs deal for defence equipment

New Delhi: Engineering and construction firm Punj Lloyd Ltd announced it has signed an agreement with Singapore Technologies Kinetics (ST Kinetics) for the manufacture of defence equipment.

Under the agreement, ST Kinetics and Punj Lloyd would be pooling their resources in the execution of supply contracts for the Ministry of Defence, it said in a statement.

Punj Lloyd had earlier bagged a licence for manufacture of guns, rockets and missile artillery systems and other related equipment. Commenting on the pact, the Punj Lloyd Chairman, Mr Atul Punj, said, “Punj Lloyd is confident of leveraging its dynamism and adaptability to enter into the defence sector.” The companies would support trials by the Indian Army through provision of suitable personnel and resources.