Swedish defense company Saab will set up a company to produce the Carl-Gustaf M4 weapon system in India, Vice President Gorgen Johansson said, Reuters reports.

The plant will begin production in 2024, he said. Johansson declined to provide details on the investments the company may make in the facility.

The Carl-Gustaf M4 is a recoilless rifle ordered by the Indian armed forces.

The new facility will support its own production as well as components for users of the system worldwide, the company said in a statement.

Earlier this year, Saab said it would increase capacity to meet growing demand.