RELIANCE INFRASTRUCTURE LIMITED Shri Anil D Ambani has taken over as Chairman of PDOC.
RInfra along with defence SPVs are the new Promoters of PDOC and the Company will be renamed as Reliance Defence and Engineering Ltd.
This is the largest acquisition in the defence sector in India and PDOC is uniquely placed to tap growth opportunities in the defence industry under Hon'ble Prime Minister Shri Narendra Modi's 'Make In India Programme'.
The defence sector is likely to attract potential orders of Rs. 1,20,000 crore (US $ 20 billion) in the next five years.
Vice Admiral (Retd.) Shri H S Malhi has been appointed as the Whole-time Director and Chief Executive Officer of the Company. He had a distinguished 36 years service in the Indian Navy and was ex-Chairman & Managing Director of Mazagon Dock Ltd.
PDOC has also appointed eminent professionals including distinguished personnel from defence sector, Air Chief Marshal (Retd) Fali Homi Major and LT Gen ( Retd) Syed Ata Hasnain as Independent Directors.
With the third largest Army, the fourth largest Air force and the seventh largest Navy in the world, India is among the top 10 countries in the world in terms of military expenditure and world's largest arms importer. India in FY 2014 spent about USD 50 Billion for military needs. Projected capital acquisitions for defence sector in the next 10 years is about Rs. 15,00,000 crore with high import dependence (about 70%).
The Government of India has identified the ship building industry as a priority sector to support the critical need to meet the requirements of the Indian Navy as well as the commercial ships.
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Expected Naval Capital Outlay in ship building for next 10 years Rs. 2,25,000 crore
- Conservative share of Private Sector at 50% amounts to Rs. 1,12,500 crore
PDOC is participating in various programmes in the field of new ship-building and Maintenance, Repair and Overhaul (MRO) which are in various stages of RFP/ RFI of worth more than Rs 1,80,000 crore
Pipavav Defence & Offshore Engineering Co. Ltd. (PDOC) has the largest engineering infrastructure in India and is one of the largest in the world. The Company is the first private sector company in India to obtain the licence and contract to build warships. The facility houses the only modular shipbuilding facility with a capacity to build fully fabricated and outfitted blocks. The fabrication facility is spread over 2.1 million sq. ft. The shipyard has a pre-erection berth of 980 meters length and 40 meters width, and 2 Goliath cranes with combined lifting capacity of 1,200 tonnes, besides outfitting berth length of 780 meters.
Reliance Defence Ltd is a wholly owned subsidiary of Reliance Infrastructure Ltd. With industrial licenses for the full spectrum of military platforms, Reliance Defence is the fastest emerging private sector enterprise in the development, manufacture and supply of Defence aerospace, land and naval platforms and equipment.
Reliance Infrastructure Ltd (RInfra) is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors within the infrastructure space such as Power, Roads, Metro Rail, Cement and Defence.
RInfra is also a leading utility company having presence across the value chain of power businesses
i.e. Generation, Transmission, Distribution and Power Trading.
RInfra through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; eleven road projects with total length of 1,000 kms on build, operate and transfer (BOT) basis.
RInfra also provides Engineering, Procurement and Construction (EPC) services for developing power and road projects.
The company has recently entered into the defence sector. The Maharashtra Government has allotted land at Mihan near Nagpur for the development of India's first smart city for the defence sector known as Dhirubhai Ambani Aerospace Park (DAAP).
For further details, contact: Mr Askari Zaidi7859854732
Askari.Zaidi@relianceada.com
Reliance Infrastructure Limited issued this content on 2016-01-18 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-18 12:05:02 UTC
Original Document: http://www.rinfra.com/pdf/pressreleases/RInfraMediaRelease180116.2-4.pdf
