By: Vivek Raghuvanshi
NEW DELHI — India's major private sector ammunition manufacturer wants to increase its footprint in the African ammunition market and is considering setting up bulk explosives factories in Australia and Indonesia, according to Nilesh Panpaliya, the chief financial officer of Nagpur-based Solar Industries.
Solar Industries currently operates explosives plants in Nigeria, Zambia and Turkey.
"The company is planning to enhance its international footprint through a plant in South Africa," Panpaliya said. "South Africa is the largest mining country in Africa which gives us a very good opportunity, especially when companies are looking to reduce their costs by having a competitive supplier."
Solar Industries is also "evaluating Australia and Indonesia" and would finalize plans there this year, the CFO said.
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