Anil Ambani’s Reliance Defence forms JV with Israel’s Rafael; to take up projects worth Rs 65K crore

The JV will have 51 per cent holding from Reliance and 49 per cent from Rafael Advanced Defence systems.

Anil Ambani

Eyeing defence programmes valued at about Rs 65,000 crore, Reliance Defence on Tuesday announced their tie-up with Israeli Rafael Advanced Defence Systems to develop air-to-air missiles for the Indian Air Force (IAF).

The JV will have 51 per cent holding from Reliance and 49 per cent from Rafael Advanced Defence systems.

“In one of the biggest joint venture between an Indian company with any OEM, Reliance Defence Ltd, a 100 per cent subsidiary of Reliance Infrastructure Ltd and Rafael Advanced Defence Systems Ltd have decided to set up a joint venture company in India in the highly specialised areas of Air-to-Air Missiles, Air Defence Systems and Large Aerostats,” a statement by Reliance Defence said.

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According to the statement, the JV will provide thrust into the field of indigenous production and development of High Precision and state-of-the-art Weapon Systems in India.

“The Strategic Partnership with technology powerhouse and one of the world leaders in defence technologies, Rafael Advance Defence Systems of Israel will mark the entry of Reliance Defence in the complex field of Air-to-Air and Air Defence Systems manufacturing in India,” the statement said.

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