Reliance Group signs pact with Russia's AlmazAntey for air defence missiles, radars
Advertisement
In a deal which coincides with PM Narendra Modi’s visit to Russia, Anil Ambani-led Reliance Group has signed an agreement with Russia's manufacturer of Air Defence Missile Systems, AlmazAntey , to work jointly on a range of air defence missile and radar systems for the Indian defence forces .
The pact with AlmazAntey will extend to 'Deep upgrades' modernization, repairs, execution of offsets, supply of spares, as well as research and development projects for the Indian armed forces, the former said in a release on Thursday.
Reliance Group has also signed a deal with the Russian United Shipbuilding Company for warships.
"Working with Reliance Defence will help us develop new directions for both companies to address future requirements of the Indian Armed Forces," VF Medovnikov, Vice Chairman of AlmazAntey was quoted as saying in the statement.
Reliance Group's Reliance Infrastructure recently concluded an open offer for Pipavav Defence & Offshore Engineering Co, which took the company's shareholding in the latter to 35%.
Reliance Infrastructure said recently that it plans to make its recent acquisition Pipavav Defence & Offshore exit corporate debt restructuring. Reliance Infrastructure acquired 18% in the company from the promoters for Rs 819 crore, making its foray into the defence sector.
The company will be renamed Reliance Defence and Engineering in January 2016.
Advertisement
The pact with AlmazAntey will extend to 'Deep upgrades' modernization, repairs, execution of offsets, supply of spares, as well as research and development projects for the Indian armed forces, the former said in a release on Thursday.
Reliance Group has also signed a deal with the Russian United Shipbuilding Company for warships.
"Working with Reliance Defence will help us develop new directions for both companies to address future requirements of the Indian Armed Forces," VF Medovnikov, Vice Chairman of AlmazAntey was quoted as saying in the statement.
Reliance Group's Reliance Infrastructure recently concluded an open offer for Pipavav Defence & Offshore Engineering Co, which took the company's shareholding in the latter to 35%.
Advertisement
The company will be renamed Reliance Defence and Engineering in January 2016.
Advertisement
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market