Reliance Infrastructure (RInfra) on Wednesday announced its subsidiary Reliance Defence's intent to form a joint venture
(JV) with French aerospace and defence electronics major Thales
to develop skills and activity in military hardware.
is to develop Indian capabilities to integrate and maintain the radar and electronic warfare sensors for fighter aircraft," RInfra and Thales
said in a joint statement following the signing of the agreement in Paris.
will develop skills and activity in the Special Economic Zone
of Mihan-Nagpur together with an Indian supply chain for the manufacturing of microwave technologies and high performance airborne electronics," the statement said.
While Reliance Defence
will hold 51 per cent stake in the JV, Thales
will have the remaining 49 per cent equity.
is another major milestone in our march towards best-in-the-class manufacturing at support facilities for military hardware
in India," Reliance Group Chairman Anil Ambani said in the statement.
Chairman Patrice Caine
said: "This JV
resonates with our strategy to strengthen our industrial footprint in the country by building collaborations with the Indian industry."
On Tuesday, another RInfra subsidiary — Reliance Defence
Ammunition — entered into a strategic partnership with Serbia's Yugoimport to work together in ammunition manufacturing in India with a projected minimum requirement valued at Rs 20,000 crore over the next 10 years from the Indian armed forces.