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Reliance Defence Limited signs pact with South Korean firm to boost defence production

Discussion in 'Indian Defence Industry' started by Soumya, Apr 17, 2017.

  1. Soumya

    Soumya Major STAR MEMBER

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    NEW DELHI: Anil Ambani group firm Reliance Defence Limited (RDL) has entered into a strategic partnership with a leading South Korean defence major to jointly manufacturemilitary hardware for India's armed forces.

    As part of the agreement between Reliance Infra promoted RDL and LIG Nex1, the two companies will explore opportunities for developing a range of defence products such as air defence and surveillance radar, sensors and missiles.

    The cumulative value of projects being targeted by the two companies will be worth multi billion dollars, an RDL official said without elaborating further.

    Earlier this year, Anil Ambani had said that the defence sector will be the largest business area for his group in the next few years, considering opportunities worth Rs 1 lakh crore per annum in acquisitions for the armed forces.

    LIG Nex1 is a leader in manufacture of smart heavy weapons in categories of anti-ship missiles, anti-tank-guided missiles (ATGM), and guided rockets.

    Currently, there are multiple programmes 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," said the RDL official

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