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CCI gives nod to Reliance Aerostructure-Dassault Aviation JV

The JV will execute the largest defence offset contract worth up to Rs 30,000 crore

Dassault Reliance Aerospace expects a windfall from Indo-France Rafale deal

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Last Updated : Feb 07 2017 | 12:06 PM IST

The joint venture (JV) between Reliance Infrastructure Ltd promoted Reliance Aerostructure Ltd and French firm Dassault Aviation has received approval from Competition Commission of India (CCI).

Reliance will own 51 percent stake in the JV, proposed to be named as Dassault Reliance Aerospace Ltd (DRAL), while Dassault Aviation will hold the remaining stake.

The JV formed by Dassault Aviation, the maker of Rafale fighter aircraft, and Anil Ambani-promoted Reliance Infrastructure was first announced in October last year. The JV, which aims to tap opportunities in aerospace sector, will be the major beneficiary of the agreement signed by India to acquire 36 Rafale fighter aircrafts for Rs 60,000 crore from Dassault Aviation with 50 per cent offset clause.