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Reliance to Invest Rs 5k Crore on Warships

Published: 17th July 2015 04:26 AM  |   Last Updated: 17th July 2015 04:26 AM   |  A+A-

NEW DELHI:  Pitching Gujarat- based Pipavav Shipyard as a one-stop shop for all requirements of the Navy, from frigates to aircraft carrier and submarines, industrialist Anil Ambani on Thursday said he will invest an “additional Rs 5,000 crore” over the next few years in the project. Addressing a gathering of top defence officials and industry leaders at a seminar on indigenisation organised by the Navy and CII, Ambani said Reliance Group’s “acquisition of Pipavav Defence Company in Gujarat with assets worth more than Rs  10,000 crore” is our contribution towards self-reliance.

“We will invest an additional Rs 5,000 crore over the next few years as part of our commitment towards indigenisation efforts,” Ambani said at the seminar on indigenisation organised by the Navy and CII.

Ambani added that specific measures towards ease of doing business will encourage industry participation to boost confidence of the private sector in the new ‘Make in India’ initiative. “This is necessary as the Ministry of Defence(MoD) is the sole domestic customer,” he said.

He underscored the fact that Pipavav has the largest dry dock in the country, which is only the second largest in the world.



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