Latest News | Reliance Infra Targets Rs 3,000 Cr Defence Exports in 2 Yrs
Get latest articles and stories on Latest News at LatestLY. Reliance Infrastructure Ltd, the flagship company of Anil Ambani's Reliance Group, is targeting Rs 3,000 crore from the export of 155 mm ammunition and aggregates by the end of financial year 2027, sources said.
New Delhi, Jun 1 (PTI) Reliance Infrastructure Ltd, the flagship company of Anil Ambani's Reliance Group, is targeting Rs 3,000 crore from the export of 155 mm ammunition and aggregates by the end of financial year 2027, sources said.
In the current year itself, the company is estimated to export Rs 1,500 crore of large calibre ammunition.
Reliance Infrastructure has already clocked exports of up to Rs 100 crore of artillery ammunition and aggregates and is aiming to be among the top three exporters of defence equipment in India, sources aware of the matter said.
The key export market for Reliance includes countries in the European Union, focusing on large restocking demand for artillery ammunition.
According to the experts, the market size for restocking is estimated at Rs 4,00,000 crore.
Sources said Reliance has been able to make inroads in the highly competitive markets of the European Union and South East Asia.
When contacted, a Reliance Infrastructure spokesperson confirmed that the ammunition export is the key priority of the company as it develops Dhirubhai Ambani Defence City (DADC) in Ratnagiri, Maharashtra, with a capital outlay of Rs 5,000 crore.
The company has been allotted 1,000 acres of land in Watad Industrial Area of Ratnagiri, Maharashtra to develop DADC. It will be the largest greenfield project in the defence sector in India by any private sector company.
The company is setting up an integrated explosives and ammunition manufacturing plant in DADC.
Recently, Reliance Defence also announced a strategic partnership with Düsseldorf-based Rheinmetall AG.
The collaboration between the companies will include the supply of explosives and propellants for medium and large caliber ammunition to Rheinmetall by Reliance.
Furthermore, the two companies intend to engage in joint marketing activities for selected products and aim to further extend their cooperation based on future opportunities.
In order to support this collaboration, Reliance Defence will set up a greenfield manufacturing facility in Ratnagiri, Maharashtra.
The manufacturing facility will have an annual capacity to produce up to 200,000 artillery shells, 10,000 tons of explosives and 2,000 tons of propellants. This new facility will help Reliance Defence achieve its objective of being amongst the top three defence exporters in the country.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)