Lucknow, Jun 11 (KNN) PTC Industries has announced a partnership with several key players in the defence and aerospace sectors to establish a new Green Field Defence Testing Facility in Lucknow under the government's DTIS (Defence Testing Infrastructure Scheme).

The Advanced Materials (Defence) Testing Foundation facility will be located in the Lucknow Node of the Uttar Pradesh Defence Industrial Corridor.

It aims to provide state-of-the-art testing infrastructure for advanced materials like titanium and super alloys used in defence manufacturing.

The roughly Rs 53 crore project will be funded with 75 per cent coming from the Government of India under the DTIS scheme.

The remaining 25 per cent will be covered by the Special Purpose Vehicle (SPV) members, which include Hindustan Aeronautics Limited, Bharat Dynamics Limited, Mishra Dhatu Nigam, Yantra India Limited, PTC Industries Limited, and the Uttar Pradesh Expressways Industrial Development Authority.

"This globally unique lab will significantly enhance India's testing capabilities for these crucial defence materials, ensuring superior quality," said PTC Industries Chairman and Managing Director Sachin Agarwal. He highlighted how the facility will strengthen domestic defence manufacturing.

The project is expected to be a major catalyst for the Indian defence ecosystem by creating indigenous testing capabilities that meet stringent standards.

Shares of PTC Industries have surged over 106 per cent in the last six months, gaining over 2 per cent on Monday to close at Rs 1,180.

(KNN Bureau)