Global Defence Industries Leases 1,500 Acres in Maharashtra

Global Defence Industries Limited (GDIL) has been granted a lease for approximately 1,500 acres of land in Ahilyanagar, Maharashtra, by the Maharashtra State Farming Corporation Limited. The land will be used for setting up and developing a proposed project. The lease is for an initial tenure of 49 years, renewable for another 49 years, with a base rent of ₹50,000 per acre per annum, escalating by 3% annually. GDIL also secures a First Right of Refusal for 900 acres within the leased parcel. This strategic land acquisition is crucial for the company's expansion and project development plans.