Reliance Infrastructure’s wholly owned subsidiary – Reliance Defence (RDL), has entered into a strategic partnership agreement with South Korean defence major LIG Nex1. As part of this partnership, two companies will explore opportunities in the indentified range of defence products required by the Indian armed forces. LIG Nex1 are emerging leaders in smart heavy weapons in category of Anti-ship Missiles, Anti Tank Guided Missiles (ATGM) and Guided Rockets.
Currently, there are multiple programs for the Indian Armed Forces that the two companies plan to address together. This will potentially include improvements to the existing weapon systems which are part of LIG Nex1 portfolio to meet the specific requirements of the Indian Armed Forces. Cumulative value of Programs being targeted will exceed multi billion. The two companies will also work on performance enhancement for various systems / platforms in the portfolio of LIG Nex1, to meet the specific requirements of the Indian Armed Forces.
Reliance Infrastructure is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector. The company is also a leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission, Distribution and Power Trading.