 "Anil Ambani, Chairman of Reliance Infrastructure. (Photo: Kamlesh Pednekar)")
The Anil Ambani-led Reliance Infrastructure on Friday said it has changed the name of its defence subsidiary Reliance Defence and Engineering Ltd in view of the firm’s shifting focus towards naval shipbuilding.
The company will now be called Reliance Naval and Engineering Ltd.
“Reliance Naval and Engineering Limited, controlled by Reliance Infrastructure Limited, has received the necessary approval for changing the name of its defence subsidiary-- Reliance Defence and Engineering Limited-- to ‘Reliance Naval and Engineering Limited’ with effect from September 6, 2017,” said Reliance Infra in a press statement.
The decision to change the name resonates with the parent firm’s renewed efforts to concentrate on naval shipbuilding as a principal focus segment.
The company further added, “Reliance Infrastructure Limited through its subsidiaries is actively pursuing various defence businesses. It has formed the Dassault Reliance Aerospace Limited (DRAL) in partnership with Dassault Aviation for the supply of 36 Rafale Aircraft at an estimated cost of over Rs 30,000 crore,” said Reliance Infra.
Reliance Infrastructure has also formed the Reliance Rafael Defence Systems with Rafael Defence of Israel.
As part of its new business strategy, Reliance Infrastructure has shifted its focus to the defence segment through its acquisition of the erstwhile Pipavav Defence and Offshore, marking a departure from its core sectors of power and road segment.
The Maharashtra government has also allotted land for its Rs 6,500-cr defence project at Mihan, the company added.
In its statement, Reliance Infrastructure said: “The Maharashtra government has allotted land at MIHAN near Nagpur for the development of India's first smart city for the defence sector known as the Dhirubhai Ambani Aerospace Park (DAAP).”
