The defence ministry is gearing up to award a Rs 20,000 crore contract to build four amphibious warships under the Make in India programme, setting up a direct competition between Reliance Defence and L&T for bagging the order as it has decided to keep already stretched public sector shipyards out of the project.
With a new joint venture announced with French aerospace giant Dassault Aviation, Anil Ambani’s Reliance Group is set to get a big slice of the Rafale fighter jet deal and will target business worth Rs 20,000 crore as part of the offsets for the contract.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of United Arab Emirates (UAE) and Ruler of Dubai met Anil Ambani, Chairman, Reliance Group in Abu Dhabi on February 21.
Media reports suggest that Warburg Pincus is likely to pick up a 40 percent stake in Tata Technologies (an engineering solutions and IT product developing arm of Tata Motors).
Under a deal announced earlier this week, India will become a major service and repair hub for the US Seventh Fleet—the armada that is at the center of US war preparations against China.
Reliance Defence and Engineering Ltds net standalone net loss narrowed to Rs 132.7 crore for the quarter ended December 31, 2016, on the back higher revenue from operations.
In a significant move, Reliance Defence and Engineering Ltd. (RDEL) on Monday announced signing a contract with Ministry of Defence to build 14 Fast Patrol Vessels (FPVs) for Indian Coast Guard, valued at Rs. 916 Crores.
Reliance defence delivers a newbuilt panamax bulk carrier to one of the largest international shipping company seventh panamax vessels with ice – class technology meeting the latest environmental norms. One of the largest dry bulk carrier of its class built in india. Reliance shipyard the only indian private sector shipyard to deliver a panamax class vessel till date.