Another BIG move by Anil Ambani, ties up with…, taps India's Rs 200000000000…
Business
Another BIG move by Anil Ambani, ties up with…, taps India's Rs 200000000000…
Another BIG move by Anil Ambani, ties up with…, taps India's Rs 200000000000…
After getting rid of debt for his many companies, now Anil Ambani is entering into big partnerships.
Reliance Defence Limited, a subsidiary of Reliance Infrastructure Limited, announced on Monday that it has entered into a partnership with Coastal Mechanics Inc to collaboratively tap into India's defence maintenance, repair, overhaul (MRO), and upgrade market, valued at Rs 20,000 crore.
Coastal Mechanics is a US Department of Defense authorised contractor.
Reliance Infra On New Partnership
Reliance Infrastructure in a statement said the partnership will focus on providing end-to-end MRO, upgrade, and lifecycle support solutions for the Indian armed forces, targeting a wide range of critical platforms such as 100+ Jaguar fighter aircrafts, 100+ MiG-29 fighter aircrafts, the fleet of Apache attack helicopters, L-70 air defence guns, and other legacy systems that require long-term sustainment and modernisation.
The segment represents a high-value, long-duration opportunity driven by the Indian military's strategic shift from asset replacement to lifecycle extension and performance-based logistics, it added.
Reliance Defence And Coastal Mechanics JV
According to the statement, Reliance Defence and Coastal Mechanics will also set up a joint venture (JV) at MIHAN in Maharashtra to serve both the Indian market and export markets.
This JV will provide complete MRO and upgrade services for various air and land defence platforms used by the armed forces, the statement added. Coastal Mechanics supplies critical components to the US Air Force and US Army.
Formed in 1975, Coastal Mechanics Company is already a longtime active vendor supporting armament and defense obsolescence issues through the US Army/USAF FMS cases.
(With Inputs From PTI)
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