Rs 5000000000000 market, Anil Ambani makes historic move, plan is to...
New Delhi: Anil Ambani's Reliance Infrastructure will now expand its business in the defense sector. The company will focus on programmes to improve aircraft. The company expects to get opportunities worth Rs 5,000 crore in the next 7 to 10 years. The company aims to become the first private company in India to improve aircraft. Till now this work was done by government companies and OEMs (original equipment manufacturers). The global market for upgrading military aircraft and helicopters is more than Rs 5 lakh crore annually.
Anil Ambani's Reliance Group's Reliance Infrastructure is going to do a big job in the defense sector and is focusing on modernizing aircraft. The company is expected to make good profits in the next few years and is on its way to becoming the first private company in this sector.
A company source said that they have completed a project with HAL in collaboration with US company Genesis. In this project, they have improved 55 Dornier-228 aircraft.
Earlier the company got the contract of upgrading 37 aircraft. After doing good work, the company got an order for 18 more aircraft. According to sources, this entire project of upgrading Dornier was worth Rs 350 crore.
The upgraded Dornier aircraft are deployed with the Indian Air Force, Indian Navy and Indian Coast Guard. Military aircraft and helicopters last for about 30-40 years, therefore, it is necessary to upgrade them from time to time. Especially it is necessary to replace their avionics, mission systems and security equipment.
The market for upgrading military aircraft and helicopters worldwide is more than Rs 5,00,000 crore every year and it is estimated that this market will reach Rs 7,00,000 crore in the next seven years.
The number of old aircraft in India is very high. Therefore, there are many opportunities in this field here. The Indian Army is also focusing on modernizing its old aircraft.
Reliance Infrastructure now wants to further increase its capacity to upgrade aircraft and helicopters. For this, the company is working closely with companies around the world. Apart from upgrading Dornier, the company is also working with France's Thales in the Performance-Based Logistics (PBL) program for Rafale fighter jets in India.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
24 minutes ago
- Time of India
Land talks begin for Purandar airport, amid 3,000 objections from farmers in 7 villages
Pune: Land acquisition for the proposed Rs 3,500-crore Purandar International Airport showed early signs of becoming a complex process for the state govt after officials said they received more than 3,000 objections from farmers in seven villages that are set to lose land to the project. Tired of too many ads? go ad free now Hearings began this week to negotiate land rates and other compensation details with farmers, but many said they were not willing to part with their land. Others who are willing to sell have demanded Rs 10 crore per acre and the return of 15% of acquired land as developed plots, within the airport complex. It's the Maharashtra Industrial Development Corporation that's spearheading the acquisition of 2,832 hectares that will be needed for the greenfield airport project, which spans the villages of Vanpuri, Udachiwadi, Ekhatpur, Munjawadi, Kumbharvalan, Pargaon and Khanwadi — all in Purandar taluka. During a compensation hearing organised by state officials on Tuesday, anger was palpable among the protesting farmers. "We do not want construction here," said Jitendra Memane, a farmer from Pargaon. "We will continue our protests. They had first identified another location. They can build there," he said. Officials TOI spoke to said they would need at least 10 days to review the total of 3,022 objections that had come in from the seven villages. "All these objections and details of the hearings, along with our observations, will be submitted to the state govt," said a senior land acquisition official who is conducting the proceedings, which would have to be comprehensive. In Udachiwadi village alone, 142 objections have been filed, 116 of them were heard on Monday. Local farmer Santosh Hagwane said: "No acquisition should happen unless all farmers are completely satisfied with the details." Tired of too many ads? go ad free now Originally given to Maharashtra Airport Development Company (MADC), the Purandar project - seen by many as critical to Pune's growth - was transferred to MIDC following sustained farmer opposition. The MIDC now plans to raise Rs 3,500 crore from private investors to acquire 2,732 hectares, including an additional 70 hectares from the forest department. Deputy Collector (Land Acquisition) Kalyan Pandhare said the process would be completely transparent, with the state planning to acquire 90% of land with 10% returned to farmers as developed plots. "There will be no injustice to people," Pandhare said. Altogether, more than 2,000 families would need to be compensated for their property, but with many farmers demanding payments in full, high compensation rates and partial return of land, the challenges for officials remain significant. A second round of hearings has now been scheduled for June 17, to accommodate the farmers who missed the initial proceedings. Pune: Land acquisition for the proposed Rs 3,500-crore Purandar International Airport showed early signs of becoming a complex process for the state govt after officials said they received more than 3,000 objections from farmers in seven villages that are set to lose land to the project. Hearings began this week to negotiate land rates and other compensation details with farmers, but many said they were not willing to part with their land. Others who are willing to sell have demanded Rs 10 crore per acre and the return of 15% of acquired land as developed plots, within the airport complex. It's the Maharashtra Industrial Development Corporation that's spearheading the acquisition of 2,832 hectares that will be needed for the greenfield airport project, which spans the villages of Vanpuri, Udachiwadi, Ekhatpur, Munjawadi, Kumbharvalan, Pargaon and Khanwadi — all in Purandar taluka. During a compensation hearing organised by state officials on Tuesday, anger was palpable among the protesting farmers. "We do not want construction here," said Jitendra Memane, a farmer from Pargaon. "We will continue our protests. They had first identified another location. They can build there," he said. Officials TOI spoke to said they would need at least 10 days to review the total of 3,022 objections that had come in from the seven villages. "All these objections and details of the hearings, along with our observations, will be submitted to the state govt," said a senior land acquisition official who is conducting the proceedings, which would have to be comprehensive. In Udachiwadi village alone, 142 objections have been filed, 116 of them were heard on Monday. Local farmer Santosh Hagwane said: "No acquisition should happen unless all farmers are completely satisfied with the details." Originally given to Maharashtra Airport Development Company (MADC), the Purandar project - seen by many as critical to Pune's growth - was transferred to MIDC following sustained farmer opposition. The MIDC now plans to raise Rs 3,500 crore from private investors to acquire 2,732 hectares, including an additional 70 hectares from the forest department. Deputy Collector (Land Acquisition) Kalyan Pandhare said the process would be completely transparent, with the state planning to acquire 90% of land with 10% returned to farmers as developed plots. "There will be no injustice to people," Pandhare said. Altogether, more than 2,000 families would need to be compensated for their property, but with many farmers demanding payments in full, high compensation rates and partial return of land, the challenges for officials remain significant. A second round of hearings has now been scheduled for June 17, to accommodate the farmers who missed the initial proceedings.
Deccan Herald
39 minutes ago
- Deccan Herald
Unable to pay contractors on time, Karnataka govt now ‘formalises' delay
The formalisation of delayed payments is bad news for contractors, who are already fighting the government over pending bills worth Rs 32,000 crore and corruption.
Economic Times
an hour ago
- Economic Times
Stock Radar: MGL trades above upwards sloping trendline, reclaims 100-EMA; check target & stop loss
Mahanagar Gas Ltd (MGL), part of the gas industry, took support above 100-days Exponential Moving Average (EMA) on the daily charts and traded above the upwards sloping trendline which is a positive sign for the traders can look to buy the stock for a target of Rs 1,490 in the next few weeks, suggest experts. The stock closed at Rs 1,416 on June 9, stock hit a high of Rs 1,988 on September 25, 2024, but it failed to
