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.