Anil Ambani beats Mukesh Ambani as Reliance Infra becomes first Indian private company to develop..., eyes Rs 100000000000.....
Anil Ambani and Mukesh Ambani- File image
In a significant development for India's defence industries, Reliance Infrastructure, under the leadership of Anil Ambani become the first Indian private sector company to design and develop four types of new generation 155mm artillery ammunition. Adding to the development, the Anil Ambani's company is also expecting to receive orders worth Rs 10,000 crore from the Indian Ministry of Defence (MoD) over the next 10 years. Defence exports of Reliance Infrastructure
As a part of its export plan, Reliance Infrastructure Ltd, the flagship company of Anil Ambani's Reliance Group, is targeting Rs 3,000 crore from the export of 155 mm ammunition and aggregates by the end of financial year 2027, as per a report by news agency PTI.
In the current year itself, the company is estimated to export Rs 1,500 crore of large calibre ammunition.
Reliance Infrastructure has already clocked exports of up to Rs 100 crore of artillery ammunition and aggregates and is aiming to be among the top three exporters of defence equipment in India, sources aware of the matter said.
In order to fulfill the export order, the Anil Ambani's Reliance Group has been allotted 1,000 acres of land in Watad Industrial Area of Ratnagiri, Maharashtra to develop DADC. The new project of the Anil Ambani group will be the largest greenfield project in the defence sector in India by any private sector company.
As per the recent update, the company is setting up an integrated explosives and ammunition manufacturing plant in DADC. Key export market for Reliance Infra
The key export market for Reliance includes countries in the European Union, focusing on large restocking demand for artillery ammunition. According to the experts, the market size for restocking is estimated at Rs 4,00,000 crore.
As per a report by news agency PTI, a Reliance Infrastructure spokesperson confirmed that the ammunition export is the key priority of the company as it develops Dhirubhai Ambani Defence City (DADC) in Ratnagiri, Maharashtra, with a capital outlay of Rs 5,000 crore.
(With inputs from agencies)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
31 minutes ago
- The Print
India, Central Asian nations resolve to jointly tackle challenge of terrorism
External Affairs Minister S Jaishankar chaired the conclave that was attended by his counterparts from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The challenge of how to combat terrorism figured prominently at the fourth edition of the India-Central Asia Dialogue hosted by New Delhi, with a focus on expanding the overall trajectory of cooperation between the two sides in several key areas. New Delhi, Jun 6 (PTI) Five Central Asian states on Friday joined India in strongly condemning the April 22 Pahalgam terror attack and demanded that the perpetrators, financiers and sponsors of terrorist acts be held accountable and punished. The foreign ministers of the Central Asian nations reaffirmed their support also for a permanent membership of India in an expanded UN Security Council. A joint statement unveiled at the end of the deliberations said the ministers 'unequivocally condemned the terrorist attack in Pahalgam' and resolved to fight against terrorism in all its forms. They reiterated that using terrorist proxies for cross-border terrorism, terror financing, dissemination of a radical ideology and abuse of cyberspace to spread disinformation goes against the basic principles of humanity and international relations, it said. 'They stressed that perpetrators, organisers, financiers and sponsors of terrorist acts must be held accountable and brought to justice,' the statement said. 'In this context, they called for early adoption of the UN Comprehensive Convention on International Terrorism. They stressed the need to strengthen UN-led global counter-terrorism cooperation and fully implement the relevant UNSC resolutions, global counter-terrorism strategy and FATF standards,' it said. The ministers also called for a 'peaceful and stable' Afghanistan, free from terrorism, war and drugs. 'They stressed the need to stand by the people of Afghanistan.' 'The ministers agreed to continue close coordination and consultations on matters related to Afghanistan,' the statement noted. The conclave also extensively deliberated on boosting connectivity in the region. India welcomed the interest of Central Asian countries to utilise the services of the Shahid Beheshti terminal at the Chabahar Port for facilitating their trade with India and beyond. The Shahid Beheshti terminal at the port is being operated by India. 'The sides agreed to continue engagement for further developing the transit and transport potential of their countries, through simplification and streamlining of goods transit procedures,' the joint statement added. The ministers also emphasised optimum usage of the International North-South Transport Corridor (INSTC) to enhance connectivity between India and the Central Asian countries. The INSTC is a 7,200-km-long multi-mode transport project for moving freight among India, Iran, Afghanistan, Armenia, Azerbaijan, Russia, Central Asia and Europe. India has been supporting the project. 'They stressed that connectivity initiatives should be based on the principles of transparency, broad participation, local priorities, financial sustainability, respect for sovereignty and territorial integrity of all countries,' the statement said. 'India reiterated its support for the membership of Turkmenistan and Uzbekistan in INSTC. In this context, ministers appreciated the initiative taken by Kazakhstan to develop the eastern branch of INSTC,' it said. In his opening remarks at the conclave, Jaishankar appreciated the Central Asian states for standing by India following the Pahalgam terror attack. India would be a 'trusted development partner' for Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, he said. 'I appreciate that your countries stood by India and condemned the heinous terrorist attack that took place in April in Pahalgam,' he said. Jaishankar said India 'deeply cherishes' its millennia-old civilisational and cultural ties with Central Asia. The external affairs minister said the cooperation between India and Central Asia received a 'quantum boost' following Prime Minister Narendra Modi's back-to-back visits to all five countries in the region in July 2015. 'Today, we are well-connected by multiple direct flights. Our enhanced connectivity facilitates greater two-way tourist flows and businesses,' he said. Jaishankar said both India and the Central Asian nations are committed to advancing mutually beneficial cooperation in areas of trade and investment, defence, regional connectivity, security and new and emerging technologies. The India-Central Asia Dialogue, launched in January 2019 in Samarkand, is a meeting of foreign ministers. It serves as a key platform for strengthening ties between India and Central Asia. The second meeting took place virtually in October 2020 and focused on regional security, counter-terrorism, and infrastructure development. PTI MPB VN VN This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
NDTV
37 minutes ago
- NDTV
How Much Will Home Loan EMI Drop After RBI's Repo Rate Cut
New Delhi: If you have a home loan, your EMI is set to reduce by over Rs 1,500 a month thanks to the Reserve Bank of India's latest move. With the central bank cutting the repo rate by 50 basis points -- from 6 per cent to 5.5 per cent -- banks are expected to lower interest rates on loans. For a Rs 50 lakh home loan over 20 years, this could mean monthly savings of Rs 1,569 and annual savings of nearly Rs 19,000, offering much-needed relief to borrowers amid high living costs. The repo rate is the interest rate at which the RBI lends money to commercial banks. A reduction in this rate makes borrowing cheaper for banks, which in turn allows them to offer loans to customers at lower interest rates. This directly impacts borrowers, especially those with home loans linked to repo-based lending rates (RBLR). Let's break this down with a practical example. Suppose you have a home loan of Rs 50 lakh at an interest rate of 8.5 per cent for a tenure of 20 years. Your monthly EMI in this case would be around Rs 43,391. Now, after the 50 basis points cut in the repo rate, if the bank reduces your interest rate to 8 per cent, your new EMI would come down to approximately Rs 41,822. Gaurav Gupta, Secretary of CREDAI (Confederation of Real Estate Developers' Associations of India), welcomed the RBI's monetary decision, saying that the rate cut will help reduce borrowing costs for home buyers. Beyond just lowering monthly payments, it will improve housing affordability across the country. He further added that a drop in interest rates not only benefits individual buyers but also boosts overall sentiment in the real estate sector, which positively impacts multiple industries connected to it. Importantly, it's not just home loans that will get cheaper -- personal loans, auto loans, and other types of retail borrowing will also see reduced EMIs as a result of lower interest rates. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
NDTV
37 minutes ago
- NDTV
How Horses, Mules Helped In Navigating Steep Slopes To Build Chenab Bridge
Katra: To make the vision of "Kashmir to Kanyakumari" come alive, the project team behind the construction of the Chenab bridge faced several challenges. Among them was how to reach the location surrounded by the steep slopes of the Himalayas. The team had only one option -- horses and mules. According to Afcons Infrastructure Limited, the top infrastructure company that constructed the bridge, one of the main and earliest challenges was access to the bridge location, to transport equipment and construction materials. "Initially, mules and horses were used by the project team to reach the location. Slowly over a period, temporary roads were created and access was made available to the site," a spokesperson from the company said. Prime Minister Narendra Modi on Friday inaugurated the iconic Chenab Bridge, Anji Rail Bridge and Udhampur-Srinagar-Baramulla Rail Link (USBRL) project and flagged off Vande Bharat trains, connecting Kashmir to Kanyakumari. The spokesperson added that eventually on the North side of the river bank, an 11-km road was constructed and a 12-km long road on the South side. Krishnamurthy Subramanian, Executive Vice Chairman, Afcons, said the Chenab Railway Bridge is more than just a marvel of engineering. "It is a symbol of India's resolve to conquer the most formidable challenges with ingenuity and courage," Subramanian told PTI. The company used the world's tallest crossbar cable cranes and specialised heavy machinery as tools for this ambitious project. "The ancient and steep slopes of the Himalayas were tamed using massive consolidation grouting, making them sturdy for the colossal arch foundations," the company said, highlighting challenges it faced. "With the foundations set, the erection of the arch from both sides was planned by cantilever construction technique. The first big moment of triumph came on April 5, 2021, when a single majestic arch approaching steadily from both banks met at the crown," it added. "The viaduct construction was another unique challenge. There were multiple transition areas. Keeping this in mind, the launching sequence was meticulously planned in four sections," the spokesperson. Giridhar Rajagopalan, Deputy Managing Director, Afcons told PTI that for the first time in Indian Railways, incremental launching was done on transition curve and a longitudinal gradient, both occurring at same location, for the deck launching of the viaduct portion of the Chenab Bridge. S Paramasivan, Managing Director, Afcons, "For Afcons, it represents our unwavering commitment to nation-building and our ability to reimagine infrastructure in the toughest terrains. This bridge will inspire generations of engineers and stands as a tribute to the power of Indian engineering and teamwork." For the first time in the Indian Railways' history, a laboratory accredited by the National Accreditation Board for Testing and Calibration (NABL) was set up to ensure that quality was being monitored at every stage of the project. Situated at a height of 359 metres above the river, the Chenab bridge is 35 metres higher than the iconic Eiffel Tower in Paris and the world's highest railway bridge over the Chenab river. After inaugurating the Chenab bridge, the prime minister walked on it holding the Tricolour high. He travelled in a rail engine coach to reach the spot.
