Anil Ambani's BIG plan, this company plans to export defense of Rs 30000000000 by…, stock jumps….
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Anil Ambani's BIG plan, this company plans to export defense of Rs 30000000000 by…, stock jumps….
Anil Ambani's BIG plan, this company plans to export defense of Rs 30000000000 by…, stock jumps….
Recently, Reliance Defence also announced a strategic partnership with Düsseldorf-based Rheinmetall AG.
Anil Ambani (File)
Reliance Infrastructure Ltd, an entity of Anil Ambani's Reliance Group, is trying to achieve exports worth Rs 3,000 crore from 155 mm ammunition and aggregates by the end of the 2027 fiscal year, according to a PTI report.
This year, the company is projected to export Rs 1,500 crore in large-calibre ammunition. They have recorded exports of up to Rs 100 crore in artillery ammunition and aggregates, Reliance Infrastructure is planning to rank among India's top three defence equipment exporters, claim the same report.
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.
PTI told sources that Reliance has been able to make inroads in the highly competitive markets of the European Union and South East Asia.
Reliance Power And Reliance Infra Shares
On Friday, the share of Reliance Power closed at Rs 58.10 with a gain of 11.26%. At the same time, in the last one month, the company has given a return of more than 42%. Apart from this, the share of Reliance Infrastructure also closed at Rs 330.50 with a gain of 5.56% on Friday. In the last one month, the company has given a return of about 30%.
When contacted, 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.
The company has been allotted 1,000 acres of land in Watad Industrial Area of Ratnagiri, Maharashtra to develop DADC. It will be the largest greenfield project in the defence sector in India by any private sector company.
The company is setting up an integrated explosives and ammunition manufacturing plant in DADC.
The collaboration between the companies will include the supply of explosives and propellants for medium and large caliber ammunition to Rheinmetall by Reliance. Furthermore, the two companies intend to engage in joint marketing activities for selected products and aim to further extend their cooperation based on future opportunities.
In order to support this collaboration, Reliance Defence will set up a greenfield manufacturing facility in Ratnagiri, Maharashtra.
The manufacturing facility will have an annual capacity to produce up to 200,000 artillery shells, 10,000 tons of explosives and 2,000 tons of propellants. This new facility will help Reliance Defence achieve its objective of being amongst the top three defence exporters in the country.
(With inputs from PTI)
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