Our Bureau
11:31 AM, January 11, 2016
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India’s Reliance Defense has entered into a Memorandum of Understanding (MoU) with the Andra Pradesh Government to set up a facility to build nuclear submarines and aircraft carriers.

The facility is said to be co-located with the Indian Navy’s base and BARC’s nuclear facility at Rambilli, approximately 70 Km south of Visakhapatnam.

Given its critical location, from a geo-political and strategic perspective, on the East coast, and its proximity to India’s Naval establishment, including the Coast Guard, and BARC, Vizag is ideally suited for the manufacture of strategic assets such as nuclear sub-marines and aircraft carriers, critical areas of naval defence capability where we need to catch up with the rest of the world,” Anil Ambani, Chairman, Reliance Infrastructures said at Andhra Pradesh Summit in Visakhapatnam Sunday.

It is estimated that the Indian Navy will spend over INR 3 lakh Crore (US $45 trillion) or nearly INR 20,000 Crore (US $3 trillion) per year, on acquisitions and fleet modernisation of submarines and Aircraft Carriers, over the next 15 years, creating a huge pipeline of opportunity for the proposed world class naval facility, he said.

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