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The acquisition demonstrates NTPC’s continued leadership in leveraging India’s Insolvency and Bankruptcy Code (IBC) framework to resolve stressed assets and bring them back into productive use. The Sinnar plant, with its strategic location and existing infrastructure, attracted interest from several major players — reflecting the growing demand for operational and near-operational assets with locational advantages.

By successfully emerging as the preferred bidder, NTPC has reaffirmed its financial prudence and operational confidence. With its proven execution capabilities, NTPC is well-positioned to revive and integrate the Sinnar plant into the national grid, contributing to the country’s energy security and efficient asset utilization.

This acquisition highlights how public sector enterprises like NTPC are not only expanding their portfolios but also playing a pivotal role in unlocking value from stalled infrastructure — aligning with national objectives of sustainable growth and energy accessibility.

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Building upon its extensive expertise in artillery systems and its prior collaboration with AM General, KSSL continues to establish itself as a key player in the global defence industry. The company had recently entered an agreement with AM General to co-develop a wide range of next-generation artillery solutions, including mounted, towed, and ultra-light gun systems in both 105mm and 155mm calibers.

Speaking on the sidelines of the ongoing IDEX in AbuDhabi, Mr. Baba Kalyani, Chairman & Managing Director, Bharat Forge Ltd. said, “Supply of made in India critical defence systems to the United States is pathbreaking! We at KSSL are proud to be the first Indian company to supply cannons to U.S. It is a testament to our capabilities and a major advancement in our mission to be a world leading Artillery Solutions provider. This agreement underscores the trust and confidence that global defence leaders, such as AM General, place in our capabilities. It also reinforces our commitment to delivering cutting-edge, battle-proven solutions to meet modern warfare requirements.” 

AM General, a global leader in military vehicle platforms, has been actively exploring next-generation artillery solutions. The company’s prior collaboration with KSSL on artillery platforms has paved the way for this deeper engagement. John Chadbourne, Executive Vice President, AM General, shares, “This Letter of Intent with KSSL represents an important step in expanding our strategic partnership. Given KSSL’s proven artillery capabilities and our shared commitment to technological innovation, we see tremendous potential in bringing advanced artillery solutions to the U.S. defence forces. AM General and Mandus are looking forward to exploring this collaboration with Kalyani Group to ultimately deliver Advance Mobile Artillery Capabilities.”

This initiative also comes after India-U.S. bilateral defence meeting, reaffirming the growing strategic partnership between the two nations and their joint efforts in strengthening defence industrial cooperation. It also underscores India’s growing defence manufacturing footprint and its emergence as a trusted supplier of advanced weaponry to global markets.

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