Reliance Defence secures Rs 600 crore export order from Germany's Rheinmetall

New Delhi: Anil Ambani's Reliance Defence on Wednesday said it has secured an export order worth Rs 600 crore from Rheinmetall Waffe Munition GmbH, a leading German defence and ammunition manufacturer.

The export order is one of the largest in the high-tech ammunition domain to date, a company statement said.

PSU Watch is now on Whatsapp Channels. Click here to join

The order represents a key milestone in Reliance Defence’s strategy to strengthen its position as a reliable partner in the global defence and ammunition supply chain, with a particular focus on Europe, it said.

The collaboration highlights the mutual commitment of both parties to long-term cooperation, and to advancing the 'Atmanirbhar Bharat' and 'Make in India' initiatives by strengthening indigenous defence manufacturing capabilities.

Reliance Defence aims to be amongst top three defence exporters in the country, it said.

"This strategic partnership...illustrates our strong commitment to partner with India under the strong leadership of Prime Minister Modi," said Armin Papperger, CEO of Rheinmetall AG.

Anil Ambani, Founder Chairman, Reliance Group said the partnership brings cutting-edge capabilities to India and represents a defining milestone for the country’s private defence manufacturing sector.

Reliance Defence will establish an integrated facility for the manufacturing of explosives, ammunition, and small arms under the ambitious Dhirubhai Ambani Defence City (DADC) initiative, it stated.

DADC is being developed in the Watad industrial area of Ratnagiri, Maharashtra, and is set to become the largest greenfield project in the defence sector ever undertaken by any private company in India.

It will serve as a cornerstone for future innovation, advanced production, and export-oriented growth in the defence sector.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)