New Delhi: Anil Ambani Promoted Reliance Defense Limited (Reliance Defense) The banned daseldorf-based reinmetal AG is tied to the banned by trade with the Indian Ministry of Defense for the construction of explosives and proprietors for medium and large caliber ammunition for international customers.
To support this cooperation, according to a statement issued by Reliance Group, Reliance Defense Limited will set up a greenfield construction facility in Ratnagiri, Watd Industrial Area in Maharashtra.
“Reliance Infrastructure Limited Limited Limited Reliance Defense Limited (Reliance Defense) and Daseldorf-based Renmetal AG have agreed to a strategic partnership in the area of ammunition. For this effect, an agreement has now been signed by representatives of both companies.”
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Incidentally, It marks the third major partnership for Reliance Defense, which follows its alliance with the Dassault Aviation and the Thales Group of France.
Reliance Group said Cooperation will include the supply of explosives and propellant for moderate and large caliber ammunition, which is for rhinmetall by Reliance. “In addition, both companies intend to engage in joint marketing activities for selected products and aim to expand their cooperation based on future opportunities.”
in 2012, The German company was blacklisted by the Indian Defense Ministry on allegations of corruption, and it remains till date. The ban was extended for three more years This year.
Incidentally, the state-driven Municipal India Limited sold about 500 tonnes of explosives to the German company in 2023 and early 2024.
Reliance Group’s statement said that Proposed manufacturing facility, Happen One of the largest in South Asia will have an annual capacity to produce 200,000 artillery shells, 10,000 tonnes of explosives and 2,000 tonnes of propelles.
This new feature will help Reliance Defense achieve its objective of being among the top three defense exporters in the country. “Cooperation provides rheinmetall access to significant raw materials and secures not only its supply chains, but also in the interests of its customers, but also further development opportunities.”
Arimin Paper, CEO of Rheinmetall AG, emphasized that “this strategic partnership … shows our strong commitment to a partner with India under Prime Minister Modi’s strong leadership”.
In his share, Anil Ambani said, “We are proud to partner with Reenmetal AG, which is one of the most respected leaders in the world in defense construction. Our aim is clear-For the status of Reliance Defense among Defense Exporters, not only to meet the needs of its domestic defense, this project is also a prominent as a major step.
With market capitalization of over € 80 billion, Rheinmetall AG concludes the calendar year 2024 with annual revenue 9.8 billion, 171 from the operation of global locations.
(Edited by Geetanjali Das)