Who: Corporate agreement between Reliance Defence & AlmazAntey
Where: Moscow, Russia
When: 24 December 2015
Why: For producing Air Defence Missile Systems
Reliance Defence of Reliance Infrastructure Limited on 24 December 2015 entered into a partnership with Russia’s AlmazAntey for producing Air Defence Missile Systems.
A corporate agreement in this regard was signed on the sidelines of Prime Minister Narendra Modi’s two-day state visit to Russia.
Details of the Partnership
• It is aimed at fulfilling air defence missile systems, including the TOR-1M missile systems, and radar requirements of Indian armed forces.
• The Cooperation will extend to deep upgrades modernization, repairs, execution of offsets, supply of spares, as well as research and development projects.
• Defence Acquisition Council’s approval for acquisition of S-400 air defence missile systems is expected to create business opportunity ofabout 40000 crore rupees.
• The partnership was entered into to boost indigenous defence production as part of the Union Government’s Make In India initiative.