The Army has finalised one of its biggest procurement plans for infantry modernisation under which a large number of light machine guns, battle carbines and assault rifles are being purchased at a cost of nearly Rs 40,000 crore to replace its ageing and obsolete weapons.
As tenders for the Rs 12,000-crore deal were opened, the shipping ministry’s Cochin Shipyard Limited and defence ministry’s Garden Reach Shipyard Limited (GRSE) emerged as the two lowest bidders," a defence ministry source told Mail Today.
This is the third open tender deal involving competitive bids in the recent past which has gone to public sector firms. Recently, the Hindustan Shipyard Limited (HSL) won the contract for building two diving support vessels (DSVs) worth Rs 2,020 crore after it emerged as the lowest bidder.
The Railways is looking to invest over USD 150 billion over the next five years which would help create one million additional jobs, minister Piyush Goyal has said.
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