Companies

Reliance Defence is now Reliance Naval and Engineering

Our Bureau Mumbai | Updated on January 09, 2018 Published on August 16, 2017


Anil Ambani’s Reliance Infrastructure-controlled Reliance Defence and Engineering has said it is changing its name to Reliance Naval and Engineering Ltd (RNEL).

The company said the change of name is in line with company’s focus on building capabilities for the Indian Navy and the Coast Guard. The company is set to seek shareholders’ approval for the name change in its AGM on August 22.

The company aims to be a leading manufacturer and supplier of advanced weapon platforms, equipment and ships.

After the Reliance Group acquired a controlling stake in Pipavav Defence and Offshore Engineering in 2016, it changed the name of the company to Reliance Defence and Engineering.

With total assets of ₹10,000 crore at that time, the company's acquisition ensured its capability to undertake the production of all types of surface ships and submarines.

Within a year of its existence, the company obtained 27 industrial licences, which will help the new entity build the full spectrum of defence platforms. The firm has also submitted bids for orders amounting to ₹30,000 crore for the Landing Platform Dock (LPD) and Anti-Submarine Warfare Shallow Water Craft (ASW SWC) contracts for the Indian Navy. The bids are expected to be opened next month.

The company has a large ship building and repair facility in the country and has one of the largest dry docks. It was recently selected by the US Navy to provide services to the seventh fleet bringing forth likely business opportunities amounting to ₹10,000 crore over the next five-seven years.

It is also undertaking three refits for the Indian Navy. In an earlier competitive bidding process, wherein four bidders from PSUs and private sector participated, the company was awarded contracts for the refitting of INS Jamuna, INS Deepak and INS Savitri.

Published on August 16, 2017
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