More Stories

By Narayana Krishna

 

Please click here to read all liners published on this story

--Andhra official: HFCL proposes a defence manufacturing unit at Madakasira
--Andhra official: HFCL to pay actual cost for remaining 671 acres
--Andhra official: HFCL to pay INR 700,000 per acre for 329 acres
--Andhra official: HFCL to get 329 acres in phase-I at Madakasira
--Andhra official: State govt issues orders allotting 1,000 acres to HFCL

 

HYDERABAD – The Andhra Pradesh government has given its approval to allot 1,000 acres of land to HFCL Ltd. to set up a defence manufacturing unit at Madakasira mandal of Satya Sai district with an estimated investment of INR 10.4 billion, a senior official told Informist.

 

While the proposal got the State Investment Promotion Board nod, the state cabinet approved the same last week and issued the orders on Saturday, the official said. As per the order, HFCL will make artillery ammunition shell, TNT filling and multi-mode hand grenade at the proposed plant.

 

While the land was allotted to Media Matrix Worldwide Ltd. initially, the same was transferred to HFCL as the former has withdrawn its plans, the official said. As both companies submitted their representations, the state government has agreed to allot 329 acres to HFCL for phase-1 of the project at a cost of INR 700,000 per acre.

 

The state government asked the Andhra Pradesh Industrial Infrastructure Corp., the nodal agency of industrial infrastructure development in the state, to initiate the land acquisition and procure another 671 acres for HFCL. The company has to pay the actual acquisition cost for the additional land, the official said. As per the plan, HFCL is expected to complete phase-I of the project by October 2029.

 

At 1512, shares of HFCL were trading 1.6% higher at INR 70.94 apiece on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Deepshikha Bhardwaj 

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.