Tembo signs MoU for proposed €50 million ammunition production line in India

Tembo Global Industries’ subsidiary, Tembo Classic Engineering, signed an MoU with Belgium’s Lachaussee SA to establish a production line for two types of ammunition in India. The proposed facility is expected to produce approximately 100 million rounds annually, with deliveries scheduled for 2028 and 2029.

A joint venture commits capital and management time to an asset the company only part-owns.

• Capital commitment and ownership split
• Whether it is consolidated or equity-accounted
• Based on the encouraging start to the year and the strength of the current business pipeline, we expect this g (management committed by FY27)
• The JV aims to achieve at least INR 100 crores of revenue in its first year of operations. (management committed by FY27)