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RM Reviews Operationalisation of JV Indo Russian Rifles Private Limited

Raksha Mantri Shri Rajnath Singh reviewed operationalisation of newly dedicated joint venture Indo Russian Rifles Private Limited (IRRPL) at Korwa in Uttar Pradesh for production of AK 203 assault rifles in a high level meeting.  Chief Executive Officer of IRRPL Maj Gen Sanjeev Sengermentioned it is a joint venture between Ordnance Factories Board (OFB) on the Indian side, and Rosonboron Exports and Concern Kalashnikov on the Russian side. The OFB owns 50.5 per cent equity and Russian side the remaining 49.5 per cent. The JV is formed consequent to the Inter-governmental Agreement signed between India and Russia in February 2019. .............................

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Helpline 1090