Vishakhapatnam. 10 January, 2016. Reliance Defence signed an MoU with the Andhra Government to set up a naval facility at Rambilli along the East Coast, just 70 kms south of Visakapattanam. At an initial investment outlay of Rs 5,000 crore, it will represent the single largest investment at one location anywhere in Andhra Pradesh – an investment that will not only generate thousands of skilled jobs but also lead to the creation of a multi-tier array of defence ancillaries, bringing in further investments of anywhere between Rs 5,000 to 10,000 cr and thousands of additional skilled jobs.
“A futuristic state of the art venture, the Vizag naval facility will aim to better the best in the world in terms of technology and resources. It will complement our existing facility at Pipavav in Gujarat, with a clear focus on building strategic assets for the Indian navy,” said Anil Ambani, Chairman, Reliance Group, at Andhra Partnership Summit at Visakhapatnam.
In consonance with the Prime Minister’s vision of Make-in-India and Skill-India, the Indian giant has ventured into the Defence sector by making India’s largest defence acquisition at an outlay of more than Rs 10,000 cr. It is estimated that the Indian Navy will spend over Rs 3 lac cr or nearly Rs 20,000 cr per year, on acquisitions and fleet modernisation of submarines and Aircraft Carriers, over the next 15 years, creating a huge pipeline of opportunity for the proposed world class naval facility.
“The world class naval facility will also help translate Make in India into Make in Andhra Pradesh! And leapfrog the state to the top of the manufacturing revolution in India’s defence sector,” added Ambani.