Reliance Defence to be Reincarnated as Reliance Naval and Engineering

DELHI, India - Sept. 19, 2017 - PRLog -- Anil Ambani's Reliance Defence and Engineering, which is controlled by Reliance Infrastructure, has decided to rename itself to Reliance Naval and Engineering Ltd (RNEL). This decision has been made keeping the company's vision of building capabilities for the Indian Navy and the Coast Guard in mind.

The company was earlier known as Pipavav Defence and Offshore Engineering. It was later on acquired by the Reliance Group in the form of a controlling stake in 2016 acquired a controlling stake in it in 2016, the company was known as Pipavav Defence and Offshore Engineering. At that time, the company had assets worth ₹10000 crore. Currently, it aims to be the leading manufacturer and supplier of advanced weapon platforms, equipment and ships.

The final decision on the official renaming will be taken and approved by company representatives and the shareholders in the AGM scheduled to be held on August 22.

Since the acquisition by the Reliance Group, Reliance Defence has obtained 27 new licenses for building full spectrum defence platforms. They also registered bids worth ₹30000 crore for the Landing Platform Dock (LPD) and Anti-Submarine Warfare Shallow Water Craft (ASW SWC) contracts for the Indian Navy.

The company aims to bring in business opportunities worth ₹10,000 crore over the next five to seven years through one of the largest dry docks in India which it owns. The dry dock was recently chosen by the US Navy to provide services to the seventh fleet. Reliance Defence also has a state-of-the-art ship building and repair facility.

After a round of competitive bidding in which four other parties from PSUs and the private sector participated, Reliance Defence won the contracts for the refitting of INS Jamuna, INS Deepak and INS Savitri.

Refrence link: http://www.relianceada.com/ada/index.html