Reliance Defence partners Russian firm to develop air missile systems
Reliance and AlmazAntey discussed the joint implementation of modernisation, repair and deep overhauls of ‘AlmazAntey’ systems already in service with the Indian armed forcesReliance Defence Ltd. and AlmazAntey - Russia’s leading developer and manufacturer of air defence missile systems - have agreed to develop the entire range of AD missile and radar systems required for Indian defence forces. “DAC approval for acquisition of S-400 air defence missile systems creates business opportunity of about $6 billion (Rs 40,000 crore),” Reliance Ltd. said in a statement. The two companies identified the air defence missile systems including the TOR-1M missile program, radars and automated control systems as areas of partnership under the ‘Make in India’ programme as well as offset policies of the Indian Ministry of Defence. They also discussed the joint implementation of modernisation, repair and deep overhauls of ‘AlmazAntey’ systems already in service with the Indian armed forces. The two defence majors also agreed to extend cooperation in weapon upgradation, modernisation, repairs, offsets execution, spares supply and R&D for developing new products in the defence sector. “Our proposed partnership will constitute an important milestone in the strategic relationship between the two countries,” said Anil Ambani, Chairman, Reliance Group. “Working with Reliance Defence will help us develop new directions for both companies to address future requirements of the Indian armed forces,” said V F Medovnikov, Vice Chairman, AlmazAntey.
December 24, 2015 | 05:30pm IST
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