Sitharaman Gives Army’s Delayed Future Combat Vehicle Project A Push

The $12-billion project to procure 2,300 Futuristic Infantry Combat Vehicles (FICV) for the Indian Army, which has been held up for over a decade, has received a fresh push from Defence Minister Nirmala Sitharaman, who took charge of the ministry less than a month ago, reported the Hindu Business Line.

According to the report, apart from the state-owned Ordnance Factory Board (OFB), which has been nominated for the project, Larsen & Toubro (L&T), Tata Motors, Reliance, Mahindra, and Tata Power SED-Titagarh Wagons are also in the race. All these firms had responded to the expression of interest (EoI) in 2015.

The financial daily reported that Sitharaman has sought details of the project and that an informal meeting was held on Tuesday. Further, citing sources, the report said that the matter would come up before the Defence Procurement Board on September 26.  Read More…

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