Anil-led Reliance to invest ₹5,000 cr in Pipavav Defence.

Anil Ambani’s Reliance Group will invest ₹5,000 crore in its latest acquisition Pipavav Defence, the company’s Chairman said recently.

'Pipavav Defence has assets more than ₹10,000 crore and we will invest an additional ₹5,000 crore in the next few years as part of our commitment towards indigenisation efforts,' said Ambani, while addressing a defence seminar here.

He added that the plans are to make it Global Centre of Excellence in shipbuilding and ensure it caters to all requirements of the Indian Navy from frigates to aircraft carriers and submarines.

'With more than 30 lakh square feet of covered area for fabrication and integration alone, this is perhaps the largest single location defence manufacturing facility in India,' said Ambani to an audience, which included Defence Minister Manohar Parrikar, Chief of Naval Staff Admiral Dhowan and Defence Secretary Mohan Kumar.

Ambani added that the Reliance Group is working with Swedish firm SAAB to offer technological solutions for the Indian Navy.

Suggesting more steps to indigenise and become self-reliant in defence, Ambani said the Defence Minister can consider setting up an advisory committee with chief executives of public and private sector firms.


HBL