Reliance Defense renamed as Reliance Naval and Engineering
Reliance Defense will be soon known as Reliance Naval and Engineering Ltd (RNEL). The subsidiary branch of Anil Ambani led Reliance Infrastructure is probably renamed because it has been off lately engaged in building major capabilities for Indian Navy and coast guard. After Larsen&Turbo (L&T), it is the second privatized organization to be involved in defense projects.
The company was earlier known as Pipavav Defence and Offshore Engineering before the acquisition. It had assets worth ₹10000 crore at that point of time. Presently, the aim of the company is to be the leading manufacturer and supplier of advanced weapon platforms, equipment and ships. The official renaming of the company shall take place once the company representatives have the shareholders’ approval on the same.
After the acquisition by the Reliance Group, Reliance Defence has gained 27 new licenses for building full spectrum defence platforms. It has also managed to register bids worth ₹30000 crore for the Landing Platform Dock (LPD) and Anti-Submarine Warfare Shallow Water Craft (ASW SWC) contracts for the Indian Navy.
The company hoards one of the largest dry docks in India and also an exceptional ship building and repair facility. If the work keeps on going with such an ease like it has been going till now, it is believed that the subsidiary branch of Reliance defense will be able to tap business opportunities worth ₹10,000 crore that will be brought forward over the next five to seven years. Also, the US Navy chose Reliance Defence’s dry dock to provide services to the seventh fleet.
The contracts for the refitting of INS Jamuna, INS Deepak and INS Savitri were also successfully won by the company recently, after a round of competitive bidding including four other parties belonging to PSUs and the private sector.
Refrence link: http://www.relianceada.com/ada/index.html