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PTC Industries joins SPV as part of 'Make in India' drive

Infrastructure  -  Jun 11,2024  - 

PTC Industries has announced its partnership with leading entities under the DTIS scheme in the Indian Defence and Aerospace sector to advance the 'Make in India' initiative.

This facility, named “Advanced Materials (Defence) Testing Foundation” is a collaborative effort among key industry players including Hindustan Aeronautics Limited, Bharat Dynamics Limited, Mishra Dhatu Nigam, Yantra India Limited, PTC Industries Limited and Uttar Pradesh Expressways Industrial Development Authority, with the land being provided by the Uttar Pradesh Expressway Industrial Development Authority.

The Government of India will fund 75% of the project cost, with the remaining 25% funded by the SPV members, totalling an approximate cost of Rs. 53 crores.

Sachin Agarwal, Chairman and Managing Director, PTC Industries said,“We are delighted to partner with the country's leading defence organizations under the DTIS scheme to establish the Advanced Materials (Defence) Testing Foundation in the Lucknow Node of the UP Defence Industrial Corridor. We extend our heartfelt gratitude to the Government of India and the Ministry of Defence for their visionary DTIS initiative and for setting up this facility within the UPDIC. This state-of-the-art lab, one of its kind globally, marks a significant milestone in enhancing testing capabilities for advanced materials like Titanium and Super Alloys, ensuring superior quality and compliance with stringent defence standards. This collaborative effort strengthens our manufacturing capabilities and bolsters the defence manufacturing ecosystem in Uttar Pradesh and across India."

 

Company : PTC Industries