Reliance Defence to Undergo Name Change to Reliance Naval and Engineering

DELHI, India - Sept. 28, 2017 - PRLog -- The Reliance Infrastructure-controlled Anil Ambani's Reliance Defence and Engineering, has come to the decision of renaming itself to Reliance Naval and Engineering Ltd (RNEL). This decision will complement the company's vision of building capabilities for the Indian Navy and the Coast Guard in mind.

The company was previously known as Pipavav Defence and Offshore Engineering with assets worth ₹10000 crore. Reliance Group later acquired a controlling stake in it in 2016, and renamed it to Reliance Defence. Presently, it is targeting to be the leading manufacturer and supplier of advanced weapon platforms, equipment and ships.

In the AGM to be held on August 22, the final decision on the official renaming will be made subject to approval by company representatives and the shareholders.

Ever since its acquisition by the Reliance Group, Reliance Defence has been successful in getting 27 new licenses for building full spectrum defence platforms. Bids worth ₹30000 crore were also lodged for the Landing Platform Dock (LPD) and Anti-Submarine Warfare Shallow Water Craft (ASW SWC) contracts for the Indian Navy.

The company is hoping to attract business opportunities worth ₹10,000 crore over the next five to seven years with the help of one of the largest dry docks in India it currently owns. The US Navy recently selected the dry dock to provide services to the seventh fleet. Reliance Defence also owns an advanced ship building and repair facility.

Reliance Defence also won the contracts for the refitting of INS Jamuna, INS Deepak and INS Savitri. Four other bids were lodged for the same, including parties from PSUs and the private sector.

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