BIG move by Anil Ambani as Reliance Infra inks Rs 20000 crore pact with...; to explore...

Anil Ambani continues to grow his business empire with several new deals through his Reliance Group companies. Now, Reliance Infrastructure Limited-promoted Reliance Defence Limited has signed an agreement with US-based Coastal Mechanics Inc to jointly address India's Rs 20,000 crore defence maintenance, repair, overhaul (MRO) and upgrade market opportunity.

Reliance Infra-Coastal Mechanics partnership

In a statement, Reliance Infrastructure 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.

Anil Ambani's Reliance Infra has interests in power plants, metro rail, airports, bridges, toll roads, and defence. It has a market cap of Rs 16837 crore, as of June 30. Coastal Mechanics is a US Department of Defense authorised contractor. The companies said the partnership targets a long-duration opportunity driven by the Indian military’s evolving strategy of extending asset lifecycles and adopting performance-based logistics, rather than outright replacement. The duo will also set up a Joint Venture (JV) at MIHAN in Maharashtra to serve both the Indian market and export markets, the company statement said.

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Reliance firm pact with Dassault Aviation

Recently, French aircraft maker Dassault Aviation and Reliance Aerostructure Limited announced their partnership to build the Falcon 2000LXS business jets in India, outside France, for the first time. The agreement to build the luxury planes at Nagpur for the global market was signed at the Paris Air Show.

(With inputs from PTI)