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Solar Industries and MIL Secure ₹10,000 Crore Pinaka Order, Awaiting CCS Approval for Mega Deal
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Last Updated: 30th January 2025 - 06:19 pm
The Cabinet Committee on Security (CCS) has approved a significant procurement deal valued at ₹10,000 crore for the Pinaka rocket launcher system, designating Solar Industries as one of the manufacturers, according to a report by news agency ANI on January 30, citing defense sources.
Following the announcement, at 10:00 AM IST, the share price of Solar Industries was at ₹10,110.00 on the NSE, up 5.66% from its previous close.
As per the report, the project will be shared between Solar Industries and Munitions India Limited (MIL), a former entity of the Ordnance Factory Board.
The deployment of Pinaka rocket systems is anticipated to enhance the Indian Army's artillery strength, particularly in high-altitude regions along the northern borders.
Solar Industries, a prominent manufacturer of explosives and ammunition, along with a defense PSU, will be responsible for producing these systems.
Earlier this month, Army Chief General Upendra Dwivedi mentioned that the contract for the Pinaka rocket systems was expected to receive approval soon. The deal includes ₹5,700 crore allocated for high-explosive ammunition and ₹4,500 crore for area denial munitions.
This move is in line with the government’s push for self-reliance in defense manufacturing and aims to reduce dependence on imported weapon systems.
About Pinaka
Pinaka is an entirely indigenous weapon system conceptualized and developed by the Armament Research and Development Establishment (ARDE) in partnership with the Research Centre Imarat (RCI), Defence Research and Development Laboratory (DRDL), High Energy Materials Research Laboratory (HEMRL), and Proof & Experimental Establishment (PXE).
Renowned for its precision strike capability at high altitudes, Pinaka stands among the most advanced artillery rocket systems globally. With nations like France and Armenia already showing interest, the system is poised to become a crucial component in the international defense sector.
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