Reliance Infrastructure (RInfra)-promoted Reliance Aerostructure and Dassault Aviation have formed Joint Venture known as 'Dassault Reliance Aerospace Limited'.
Eric Trappier, Chairman of Dassault Aviation France, will be the Chairman, and Anil D Ambani, Chairman of Reliance Group, will be the Co-Chairman of Dassault Reliance Aerospace Limited DRAL.
Reliance Aerostructure (RAL) will have 51% shareholding in the JV, while Dassault Aviation (DA) will hold 49%.
On 23 September 2016, India and France signed a purchase agreement for supply of 36 Rafale fighter jets at a value of €7.87 billion, or about Rs.60,000 crore.
The contract includes a 50% offset obligation to the tune of approximately Rs. 30,000 crore, which is the largest ever offset contract in the history of India. DRAL will be a key player in the execution of offset obligations.
DRAL has finalized the Infrastructure requirements at Dhirubhai Aerospace Park at Mihan, Nagpur and the construction work for the greenfield facility will start in May 2017, and production by end-2017.
DRAL will execute the programs in phases, with Phase I resulting in the generation of more than 700 highly-skilled direct jobs and 2,800 indirect jobs.
The proposed strategic partnership between Dassault and Reliance will also focus on promoting Research and Development projects under the IDDM program (Indigenously Designed, Developed and Manufactured), an initiative of Indian Defence Minister Manohar Parrikar.
Reliance has signed an agreement with the American Navy for repair and alteration services for warships of the largest forward-deployed Seventh Fleet operating in the Western Pacific and Indian Ocean. The Seventh Fleet has roughly about 5070 ships and submarines, 140 aircraft and about 20,000 sailors under its command, Tribune India reported today
Reliance Defence and Engineering (RDEL) has signed Rs 916 crore contract with Defence Ministry for design and construction of 14 fast patrol vessels for Indian Coast Guard. RDEL emerged winner through a competitive bidding process undertaken by Ministry of Defence with participation from almost all the private sector and public sector shipyards namely, L&T, Cochin Shipyard Ltd, Goa Shipyard Ltd, Garden Reach Shipbuilders & Engineers Ltd (GRSE), the company said in a statement Monday
Fair trade regulator, Competition Commission (CCI) today approved the proposed joint venture between Indian Reliance Aerostructure and French Dassault Aviation. The proposed combination relates to the setting up of a joint venture between Reliance Aero and Dassault -- Dassault Reliance Aerospace Limited, in which Reliance Aero would hold 51 per cent shares, with the remaining 49 per cent to be held by Dassault
Reliance Defence and Engineering has considered to joint venture with Kalashnikov Israel for manufacturing Kalashnikov class of weapons for Indian armed forces. Kalashnikov Israel, a subsidiary of the CAA Company of Israel, has agreed to jointly make Kalashnikov and other small arms with Reliance Defence
Indian Reliance Group and Dassault Aviation have announced a joint venture (JV) to execute $3.3 billion worth offset contract as part of the Rafale fighter jet deal
Eric Trappier, the chairman of French Dassault Aviation has said that certain parts of Rafale fighter jets and Falcon commercial jet are going to be manufactured in Indias Dassault Reliance Aerospace Limited (DRALs) manufacturing facility at Mihan in Nagpur. With production from DRAL expected to start as early as 2018 and the first Rafale expected to land in India in 2019, Eric Trappier said in an interview with
Thales and Reliance Defence Limited announced today their intent to form an Indian Joint Venture (JV) with the proposed shareholding of 49% and 51% respectively. The JV aims to develop Indian capabilities to integrate and maintain Radar and Electronic Warfare sensors
Indias Reliance Defence and South Korean LIG Nex1 will jointly explore opportunities in supply of weaponry need by Indian armed forces. Reliance Defence has entered into a strategic partnership agreement with LIG Nex1 whereby the two companies will explore opportunities in the identified range of defence products, the company announced on Monday
Indian Navy has cautioned Reliance-controlled Pipavav shipyard in Gujarat of penalties if it delays the delivery of ships and other contract works. The shipyard has not been able to meet deadlines, which in turn has adversely affected the operational capabilities of the Navy, naval officials were quoted by
India is unlikely to place a follow-on order to purchase twin engine Rafale fighter planes manufactured by French Aerospace Dassault Aviation in spite of the countrys airforce fleet being depleted. The Indian government signed a contract to purchase 36 Rafale fighter jets in fly-away condition on September 23 for $8
Dassault plans to deliver 45 Falcon and nine Rafale fighter jets in 2017 and expects to increase 2017 net sales given the Rafale export net sales. Of the nine Rafales, one will be delivered to France and the rest to Egypt, Dassault mentioned as part of the forecast in the financial press statement released Wednesday
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