Published On: Tue, Mar 29th, 2016

Israel’s Rafael to form JV to build $10 billion missiles in India

The joint venture will manufacture air defense systems is one of the biggest between an Indian company with any original equipment manufacturer, according to Reliance Defence CEO

RAFAEL - NAVAL MISSILE

 

Israeli manufacturer Rafael Advanced Defense Systems Ltd. has signed a cooperation agreement worth $10 billion with Indian giant Reliance Infrastructure Ltd, through its unit Reliance Defence.

Rafael is a market leader in the air-to-air missile segment and has world renowned products like Python and Derby. The joint venture company will collaborate in developing, manufacturing and delivering air defense systems, air-to-air missiles, and large surveillance balloons (aerostats) for the Indian defense market.

Rafael is also willing to offer solutions through the joint venture even for the ongoing ‘Buy Global’ programs where it is currently competing, in line with ‘Make in India’ initiatives of the Indian government.

The joint venture is one of the biggest between an Indian company with any original equipment manufacturer or OEM, according to Rajesh Dhingra, chief executive officer, Reliance Defence.

Reliance will hold 51 percent of the joint venture and Rafael 49 percent as per the current guidelines of the government of India. It will be located at Dhirubhai Ambani Land Systems Park, Pithampur in Indore, Madhya Pradesh, and will generate more than 3, 000 highly skilled jobs.

Similarly, for air defence systems, Rafael’s portfolio includes SPYDER short range and medium range and Barak missiles family of surface-to-air missiles in the short and medium range. Rafael has already provided large aerostat systems to the Indian Air Force for meeting its surveillance, reconnaissance, communication and intelligence needs. The two companies, through the joint venture, will offer the entire range of products in these fields to the Indian Armed Forces.

The strategic partnership with the Israeli technology power house and one of the world leaders in defence technologies will mark the entry of Reliance Defence in the complex field of air-to-air and air defence systems manufacturing in India.

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