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Reliance Group to pump in Rs 5K cr in Pipavav Shipyard

Anil Ambani said that the group’s recent acquisition of Pipavav Defence Company with assets worth more than Rs 10,000 crore would be converted into a global centre of shipbuilding.

By: Express News Service | New Delhi | Updated: July 17, 2015 5:42:23 am

Reliance Group would be investing Rs 5,000 crore over the next few years towards ‘Make in India’ efforts.

Reliance Group chairman Anil Ambani said that the group’s recent acquisition of Pipavav Defence Company with assets worth more than Rs 10,000 crore would be converted into a global centre of shipbuilding, including the deliveries of frigates, submarines and aircraft carriers to the Indian Navy.

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“Reliance Group’s acquisition of the Pipavav Defence Company in Gujarat with assets worth more than Rs 10,000 cr is our contribution towards Self Reliance. We will invest an additional Rs 5,000 cr over the next few years as a part of our commitment towards indigenisation efforts. This facility will be capable to deliver all requirements of the Indian Navy from frigates to aircraft carrier to submarines,” Ambani said at a seminar in the capital.

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