August 18, 2017
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Exploring opportunities
Reliance-LIG NEX1 strategic tie up

RInfra promoted Reliance Defence Limited, 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 is an  emerging leader 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.

Two companies have also identified Air Defence & Surveillance Radar that can be manufactured in India, as potential area of co-operation. 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 Defence Limited is a wholly owned subsidiary of Reliance Infrastructure Limited. The Company has industrial licenses for the full spectrum of military platforms and is the fastest emerging private sector enterprise in the development, manufacture and supply of Defence aerospace, land and naval platforms and equipment.