Larsen and Toubro has signed a deal with South Korean defence major Hanwha Techwin (HTW) for jointly manufacturing over 100 self-propelled howitzers for Indian Army at a cost of nearly Rs 4,500 crore.

The first batch of the 155mm/52 Cal Tracked Self Propelled (SP) gun–K9 VAJRA-T– is going to be delivered later this year and the entire supply is going to be made within a span of 42 months.

Whereas 10 guns will be directly brought from South Korea, 90 going to be manufactured in L&T’s Strategic Systems Complex in Talegaon near Pune.

Read EquityPandit’s Technical Analysis of Indian Stock Market