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Reliance Defence bags export order worth ₹600 cr from Germany's Rheinmetall
Reliance Defence, a defence manufacturer promoted by Anil Ambani's Reliance Infrastructure, has secured an export order worth Rs 600 crore from Rheinmetall Waffe Munition GmbH, a German defence and ammunition maker.
The order is one of the largest in the high-tech ammunition domain to date, R-Infra claimed. Reliance Defence recently announced a partnership with Rheinmetall to supply explosives and propellants for ammunition to the latter.
Reliance Defence aims to be a reliable partner in the global defence and munitions supply chain, with a particular focus on Europe. It aims to be among the top three defence exporters in India in the next 12–24 months.
The agreement aligns with Reliance Defence's strategic focus on expanding its international presence, with Europe identified as a key market for future growth, the company noted.
Armin Papperger, chief executive officer, Rheinmetall AG, said, 'This strategic partnership of Rheinmetall with Reliance Defence, led by Anil Ambani's Reliance Group, illustrates our strong commitment to partner with India under the strong leadership of Prime Minister Modi.'
Reliance Defence will establish an integrated facility for the manufacturing of explosives, ammunition and small arms under the Dhirubhai Ambani Defence City (DADC) initiative. The DADC is being developed in the Watad industrial area of Ratnagiri, Maharashtra, and is set to become the largest greenfield project in the defence sector ever undertaken by any private company in India, the company said.
Rheinmetall AG is one of the world's largest defence conglomerates, with a market capitalisation of over €80 billion. It concluded the calendar year 2024 with an annual revenue of €9.8 billion from operations spanning 171 global locations.
Earlier this month, Reliance Defence tied up with Germany-based Diehl Defence for the production of next-generation terminally guided munitions (TGM) in Ratnagiri.
The facilities for the above-mentioned partnerships in Ratnagiri will be established with an investment of Rs 5,000 crore over the next five years, a company source stated.
The company aims to fund 30 per cent of the investment via equity and the remaining 70 per cent through debt. The equity is likely to come from the company's internal cash accruals, the source added.
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