 "Anil Ambani")
Anil Ambani-headed Reliance Infrastructure (R-Infra) got a boost after the department of industrial policy and promotion (DIPP) approved 12 industrial licences for eight subsidiaries of its arm, Reliance Defence (R-Defence).
DIPP's licensing committee, during its meeting on November 6, had cleared a total of 32 applications, of which 12 were given by R-Infra. These approvals are crucial, especially when
R-Infra at its board meeting held on November 4 that it had decided to focus on investments in the defence sector.
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Eight subsidiaries of Reliance Defence got licence for ‘full-spectrum’ manufacturing, including aircraft, helicopters, missiles, night vision, naval and land systems. New defence projects by R-Infra subsidiaries will cover all critical requirements of the Indian Armed Forces under the 'Make in India' programme. These projects will come up in Gujarat where
R-Infra has acquired Pipavav Defence and Offshore Engineering Company Limited together with sole management control.
The company has already announced that it will shell out Rs 2,000 crore to complete the acquisition of Pipavav Defence and will spend another Rs 5,000 crore for expansion there.
When contacted, R-Infra preferred not to comment.
Reliance Defence executive recently had said that the company looked at both organic and in-organic routes for its growth and capacity-building targeted at the defence and aerospace sectors. This would include options of equity participation in the existing companies to expand capacities and setting up manufacturing facilities.
Further, the company proposes to develop dedicated Maintenance, Repair and Operations facilities for assembly and manufacture of helicopters, missiles and combat vehicles. This is to ensure that all systems produced in the country are fully supported for the life cycle.
