Capital acquisition proposals worth Rs 1,850 cr approved

New Delhi [India], Feb. 20 (ANI): The Defence Acquisition Council (DAC) on Tuesday approved capital acquisition proposals worth Rs 1,850 crore, which primarily include procurement of Infantry Combat Vehicles (ICV) pegged at Rs 1,125 crore.

The proposals also include procurement of one Survey Training Vehicle (STV), whose construction will be undertaken by the Indian Shipyards at an estimated cost of Rs 626 crore.

"These include procurement of essential quantity of BMP-2 Infantry Combat Vehicles for mechanised infantry and other arms and services at an estimated cost of Rs 1125 crore from the Ordinance Factory Board (OFB)," the Ministry said in a statement.

The Infantry Combat Vehicle is a type of armoured fighting vehicle used to carry infantry into battle and provide direct fire support. The Survey Training Vessel will augment the Navy's growing hydrographic needs in ports, harbours and exclusive economic zones.

A week ago, the Defence Ministry had approved capital acquisition proposals worth Rs 15,935 crore, which included the purchase of 7.40 lakh assault rifles, 5,719 sniper rifles and light machine guns.

Earlier in the month, the DAC had fast-tracked procurement of rifles, carbines and LMGs to equip the soldiers on the border with modern and more effective equipment.

The approval to the proposals come amid increasing hostilities by Pakistan along the Line of Control in Jammu and Kashmir as well as China's aggressive posturing in several sectors along the nearly 4,000-km-long Sino-India border. (ANI)