India’s Reliance Infrastructure company will soon sign a contract to build fast patrol vessels for the Indian Coast Guard, its chairman, Anil Ambani disclosed at the company’s annual general meeting in Mumbai on Tuesday.
"The company's focus areas would be defence and metro systems," Ambani said. Pillars of growth will be operation & maintenance, engineering procurement construction, defence and power businesses, DNA India reported today.
RInfra subsidiary Reliance Defence is a part of the partnership to develop defence equipment from private manufacturers.
Defence is a medium to light capital intensive business. The company is eyeing to begin exports, he added.
"We are looking to pursue foreign military sales over next few years. We are one among two companies that can be part of warships and submarine projects.The submarine program entails an order for six submarines for a value of over Rs 60000 Crores ( US$9 billion)," said Ambani.
The company has already signed two joint ventures with Israel. First, it has signed with Rafael to make missiles in India for the Armed Forces. The second joint venture is signed with Elbit to focus on homeland security and border management.