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Reliance Defence inks partnership with Serbia's Yugoimport to target opportunities of Rs 20k crore

Discussion in 'Indian Defence Industry' started by Butter Chicken, Jun 20, 2017.

  1. Butter Chicken

    Butter Chicken Captain FULL MEMBER

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    NEW DELHI: Anil Ambani Group company Reliance Defence Ammunition has entered a strategic partnership with Serbia's state-run defence major Yugoimport to manufacture ammunition in India and target business opportunities of Rs 20,000 crore over the next 10 years.


    "Two companies will work together in the field of ammunition amongst others, with projected minimum requirement of Rs 20,000 crore over next 10 years from Indian armed forces," Reliance Defence Ltd (RDL) said in a statement.

    It said there is also an option for exporting ammunition, adding the proposal envisages transfer of technology by the original equipment manufacturers (OEMs) and indigenous manufacturing in India.

    RDL has proposed to set up a greenfield facility for the production of ammunition.


    India currently imports nearly 50 per cent of its ammunition requirements by value term, with an annual spending of more than Rs 10,000 crore on ammunition.

    Read more at:
    http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
     
    Dagger and Blackjay like this.
  2. Blackjay

    Blackjay Developers Guild Developers -IT and R&D

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    That's criminal...
     
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  3. Dagger

    Dagger 2nd Lieutant FULL MEMBER

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    Brilliant news!
    Ambani atleast gets the job done. Long overdue work!
    Anywhere but OFB.
    Hopefully they construct multiple centers with redundancies to keep the supply line immune from wartime bombing.
     

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