Reliance Infrastructure ties up with South Korean defence company for heavy weapons for Indian armed forces
MUMBAI: Reliance Infrastructure’s arm Reliance Defence has signed a strategic partnership deal with South Korean defence major LIG Nex1 for supplying to the Indian armed forces, the Anil Ambani led company said in a statement Monday.
According to sources, the partnership target programmes worth $5 billion which could potentially have indigenous of $ 2 billion.
“Currently, there are multiple programs for the Indian Armed Forces that the two companies plan to address together. This will potentially include improvements to the existing weapon systems which are part of LIG Nex1 portfolio to meet the specific requirements of the Indian Armed Forces. Cumulative value of Programs being targeted will exceed multi billion,” the company said in the statement.
The two companies will explore opportunities in the identified range of defence products required by the Indian Armed Forces, leveraging on LIG Nex1 capability in the heavy weapons in category of anti-ship missiles, anti tank guided missiles, and guided rockets. The two companies have also identified air defence and surveillance radar that can be manufactured in India, as potential area of co-operation.
Reliance Defence Limited is a wholly owned subsidiary of Reliance Infrastructure Limited (an Infrastructure arm of the Reliance Group). The Company has industrial licenses for the full spectrum of military platforms and is the fastest emerging private sector enterprise in the development, manufacture and supply of Defence aerospace, land and naval platforms and equipment.
Reliance Infrastructure has decided to go slow on asset heavy projects and focus more on its defence business. It acquired Pipavav Defence & Offshore Engineering to get a foray into the sector and since then has signed collaboration deals with international defence manufacturers to manufacture in India for the armed forces.
According to sources, the partnership target programmes worth $5 billion which could potentially have indigenous of $ 2 billion.
“Currently, there are multiple programs for the Indian Armed Forces that the two companies plan to address together. This will potentially include improvements to the existing weapon systems which are part of LIG Nex1 portfolio to meet the specific requirements of the Indian Armed Forces. Cumulative value of Programs being targeted will exceed multi billion,” the company said in the statement.
The two companies will explore opportunities in the identified range of defence products required by the Indian Armed Forces, leveraging on LIG Nex1 capability in the heavy weapons in category of anti-ship missiles, anti tank guided missiles, and guided rockets. The two companies have also identified air defence and surveillance radar that can be manufactured in India, as potential area of co-operation.
Reliance Defence Limited is a wholly owned subsidiary of Reliance Infrastructure Limited (an Infrastructure arm of the Reliance Group). The Company has industrial licenses for the full spectrum of military platforms and is the fastest emerging private sector enterprise in the development, manufacture and supply of Defence aerospace, land and naval platforms and equipment.
Reliance Infrastructure has decided to go slow on asset heavy projects and focus more on its defence business. It acquired Pipavav Defence & Offshore Engineering to get a foray into the sector and since then has signed collaboration deals with international defence manufacturers to manufacture in India for the armed forces.
