Budget documents show that revised capital budget for this fiscal year is Rs 71,700 crores, but it is not clear whether the Defence Ministry was unable to spend the remaining amount (Rs 6,886 crore) or whether any savings were done.
This is the first time a private sector shipyard has been awarded a contract to design and build such class of ships for Indian Armed Forces. RDEL will be developing the design in-house, it said.
Reliance Shipyard with the largest dry-dock in India has used a unique modular construction technology for building large ships for both commercial usage and the Navy, the company said
The company presented its products and technology at the 'Defence Expo 2016'.
The companies will address programs valued at $10 billion over the next decade.
Industrialist Anil Ambani is a new entrant in the defence sector.
The much-awaited defence procurement policy was unveiled by the government on Monday.
Reliance Defence operates India's largest integrated shipbuilding facility in Gujarat.
Airbus is in talks with Mahindra Group to jointly develop India's first privately made helicopter.
The defence procurement policy is expected to be promulgated soon.
It to be a global supplier in ground-based air defence systems.
The infra major has underlined challenges in heavy engineering.
The facility could provide some 1,500 highly skilled jobs, it said.
A panel will suggest a policy framework to facilitate 'Make in India'.