As to what looks like a thrust to the ongoing CII Summit and the prime mission behind it, Reliance Defence Ltd has made an announcement of sorts that calls in for a celebration for Andhra Pradesh. Reliance Defence has signed an accord with the provincial government to set up a naval facility 70 kilometers south of Vizag, Andhra Pradesh.
The national giant had planned the new unit along the country’s eastern coast with an initial investment of 50 billion rupees. An official statement was released yesterday (10 Jan 2015)
Reliance Defence, which is a unit of Anil Ambani’s Reliance Infrastructure Ltd, has sustainable plans to build submarines and aircraft carriers along with providing services such as maintenance and refitting of ships at the new Vizag facility.
Reliance Chairman Anil Ambani spoke to the media yesterday at Mumbai, revealing the way forward initiative. He cited estimates, sharing his thoughts over Indian navy spending nearly 200 billion rupees every year over the next 15 years on the acquisitions and fleet modernization of submarines and aircraft carriers.
This unit has the potential to generate a “huge pipeline of opportunity”, according to a copy of his speech at an industry event released by the company yesterday.