Ordnance Factory Board (OFB) plans to invest Rs 15,000 crore towards modernisation of its factories in the next five years.
Ordnance Factories Board , which has a total of 41 factories including two newly-set units in Bihar and Uttar Pradesh, expects a turnover of Rs 12,000 crore this fiscal, as compared with Rs 11,200 crore last year.
Having invested Rs 1,600 crore to procure plant and machinery at its new units during the first four years of the Eleventh Plan period,
The OFB would invest another Rs 500 crore this fiscal, Mr S.D. Dimri, Chairman, Ordnance Factories Board, said.
“We are planning a total investment of around Rs 15,000 crore for the modernisation of 41 factories as a part of the 12th Five Year Plan.
Demand has doubled (Defence sector) over the last two years,” Mr Dimri said.
The board has been able to meet the requirement for civil security in the country.
According to Mr Dimri, West Bengal government's requirement for small arms and ammunitions for civil security has doubled in 2011-12.
“We hope to meet the State's demand,” he said.