Billionaire Gautam Adani's group is to invest more than 30 billion rupees ($362.1 million) in the production of ammunition and missiles, the conglomerate's defense branch announced on Monday, as it revealed two enormous production sites in Uttar Pradesh. The plans reflect the port-to-power conglomerate's ambitions in the lucrative defense industry, where government-owned enterprises dominate manufacturing.

Adani Defence & Aerospace will manufacture a "full spectrum of ammunition" for India's armed forces, paramilitary forces, and police at facilities spanning 500 acres, creating more than 4,000 employment, according to a press release.

The company has already begun rolling out small caliber ammunition from the facility, beginning with 150 million rounds, which it believes will account for 25% of India's yearly requirement. It will also have explosives handling facilities for missiles and precision-guided weapons.  

"Recent geopolitical events have reemphasized the need for a reliable supply of ammunition from internal sources in preparation for a long-drawn conflict," India's Chief of Army Staff Manoj Pande said in a statement.

At the Uttar Pradesh Investors' Summit, Adani declared that the facilities would be operational by 2022.

India, the world's top importer of weaponry, has been working to strengthen its fledgling defense manufacturing business.

Adani also has a drone manufacturing factory in the southern Indian state of Telangana in collaboration with Israel's Elbit Systems, where it produces Hermes 900 drones for both countries' forces.