India’s Reliance Defense (RDL) and Abu Dhabi Ship Building (ADSB) have signed a memorandum of understanding (MoU) for construction of naval ships, including frigates and destroyers for Gulf Cooperation Council (GCC), over the next 10 years.
"Under this MoU, RDL and ADSB are investigating the opportunity to set up a strategic partnership for the construction of naval ships - including frigates, destroyers and other specialized vessels to address the Gulf Cooperation Council (GCC) over the next 10 years," a statement by the Reliance Group said Monday.
The agreement could also see ADSB delivering maintenance, repair, overhaul and refit services to the vessels, in line with regional requirements, it said.
Reliance Group is likely to use its newly acquired ship-building facilities for this partnership.
This potential collaboration could help both companies expand their market share and address new opportunities, it said.
Eyeing the Indian MOD's US $15.7 billion (INR 1 trillion) plan for manufacturing six nuclear-powered submarines and seven stealth warships, Indian conglomerate, Reliance Infrastructure is scouting for an international partner in Russia
The Indian Defense Acquisition Council has laid emphasis on indigenous development and self reliance in defence production for the Defence Procurement Procedure (DPP) 2013. These include preferential treatment to categories of procurement, favouring indigenous development and domestic manufacturing, rationalisation of taxes and duty structure so as to create a level-playing ground for the private sector and sharing the public version of LTIPP amongst a host of other welcome steps
Joint Ventures and promotion of participation of Small and Medium Enterprises (SMEs) will be the foremost areas under discussion during this year’s Defexpo which began today in New Delhi. The Government of India to hoping to encourage self-reliance while equipping the Armed Forces with the latest equipment and weaponry
Indias firms Reliance defense and L&T are likely to compete for bagging Rs 20000 crore ( US $3 billion) contract from the country's Defense ministry to build four amphibious warships. Commercial bids submitted by the two private firms for the largest defence project under Make in India will be opened in the next three months
Indias inter-ministerial committee has cleared 32 proposals for setting up manufacturing units in defense and explosive sectors. Of the 32 proposals cleared 25 of them were from defense manufacturing sector and seven from explosive sector
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