Reliance Defense, a subsidiary of one of India’s largest private sector firms Reliance Infrastructure, disclosed plans to build a shipyard on India’s east coast to build nuclear submarines and aircraft carriers. The company has entered into a memorandum of understanding with the government of the eastern state of Andhra Pradesh to build a facility that will be “co-located with the Indian Navy’s strategic base and Bhabha Atomic Research Center‘s nuclear facility at Rambilli, approximately 43 miles south of the coastal city Visakhapatnam,” (where the Indian Navy’s Eastern Command Headquarters is also located) a statement issued by the company said. .
Speaking at a summit in Visakhapatnam, chairman Anil Ambani said the facility will be built with an initial investment of $757 million, adding that the facility could lead to the creation of an array of defense ancillaries with further investments of up to $1.5 billion, reports Defense News.
