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regular-article-logo Wednesday, 23 October 2024

Anil Ambani-led Reliance Infrastructure to invest Rs 10,000 crore for manufacturing arms

As part of this process, Reliance Infrastructure is setting up the largest integrated project in this segment

Our Special Correspondent Mumbai Published 23.10.24, 07:36 AM
In this Dec. 26, 2017 file photo, Anil Ambani, Chairman of Reliance Communication, addresses a press conference in Mumbai.

In this Dec. 26, 2017 file photo, Anil Ambani, Chairman of Reliance Communication, addresses a press conference in Mumbai. Sourced by the Telegraph

Anil Ambani-led Reliance Infrastructure is investing 10,000 crore over the next decade for the manufacture of explosives, ammunition and small arms.

As part of this process, Reliance Infrastructure is setting up the largest integrated project in this segment.

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The company said in a press statement that it has been allotted 1,000 acres in Watad Industrial Area of Ratnagiri, Maharashtra, to develop Dhirubhai Ambani Defence City (DADC). It added that DADC will be the largest greenfield project in India’s defence sector by any private sector company.

Reliance Infrastructure disclosed that the projects envisage potential joint ventures with up to six leading global defence companies.

While it did not disclose their identities, the company said that the ammunition range will include small, medium and large caliber and terminally guided munition (TGM) small arms portfolio for the export markets, which will include both civil and military applications.

The statement said through its subsidiaries, it has exported defence equipment worth more than 1,000 crore over a period of time. Its announcement comes at a time the central government has been calling for domestic production of defence equipment.

Reliance Infrastructure’s wholly owned subsidiaries Jai Armaments Ltd and Reliance Defence Ltd now have the licence to manufacture arms and ammunition.

The group already has joint ventures at Mihan in Nagpur, Maharashtra, with two of the leading global defence companies — Dassault Aviation and Thales of France. Dassault Reliance Aerospace (DRAL) and Thales Reliance Defence Systems (TRDS) now export 100 per cent of their production.

Shares of Reliance Infrastructure closed 4.99 per cent lower at 254.25 on the BSE on Tuesday.

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