Reliance Defence inks pact with South Korean company

Reliance Defence Limited (RDL), a member of Anil Ambani group, has signed an agreement with a leading South Korean defence major to jointly manufacture military 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, according to a PTI report.

It may be recalled that Anil Ambani had said earlier this year 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.

Image Credit :

Research Desk

Next Post

NLC to add 1000 MW by June 2018

Wed Apr 19 , 2017
Public sector power giant NLC India is planning to add 1000 MW capacity by June 2018. By March 2018, it will add 500 MW unit, followed by another unit in two months. According to the company’s Chairman SK Acharya, the company will have 640 MW solar power which will be […]
NLC to add 1000 MW by June 2018


Blog Stats