NELLORE: Hyderabad-based Premier Explosives Ltd (PEL) has firmed up plans for establishing a unit in the vicinity of ISRO Spaceport in Sriharikota.
The Rs 2,600 million company will produce strap-on motors for Polar Satellite Launch Vehicle (PSLV) and some critical components for ISRO and DRDO at the facility.
In 2003 PEL forayed into development of solid propellants and today it is the only private entity in India manufacturing and supplying solid propellants for missiles like Akash, Astra, LRSAM and rockets like Pinaka that are developed by DRDO.
PEL has collaboration with IIT, Madras, for research and development in high energy materials.
Speaking to Deccan Chronicle, SPSR Nellore district collector KVN Chakradhar Babu said that they have identified 300 acres of land as required by PEL near Ogili in Sullurpeta segment. It has urged the government for allocation.
“As chairman of the district industrial promotion committee, I visited the PEL factory in Hyderabad along with officials of industries department to study the activities and safety standards before recommending to the government for allotment of the land” Babu informed.
According to the collector, PEL will invest Rs 300 crore on the proposed unit and commission the same within two years. The facility will provide employment to 5,500 people. The management has agreed to hire 75 per cent of the manpower locally as per the policy of the state government.
The unit will produce explosives, propellants, and straps on motors, Babu said, adding that it is a labour-intensive organisation.
