December 10, 2013

Agreement Between French Dassault And Indian Reliance Industries Limited

Barely a week after bagging the USD 15 billion 126 fighter aircraft deal, French Dassault and Indian Reliance Industries Limited (RIL) have signed an agreement under which they will start working together in defence and homeland security sector from next week.

"Dassault Aviation, a major player in the global aerospace industry, has entered into a MoU with Reliance Industries, for pursuing strategic opportunities of collaboration in the area of complex manufacturing and support in India," the two companies said in a joint statement.

The MoU has been signed after the Defence Ministry on January 31 offered Dassault the multi-billion dollar deal to supply 126 combat aircraft to the IAF.

Sources said Dassault would involve RIL for working together in the Medium-Multirole Combat Aircraft (MMRCA) deal here under the offsets clause.

After finalising the deal, Dassault will have to reinvest 50% of the worth of the deal back into Indian defence sector.

The aerospace and security division of the Reliance Industries is headed by Vivek Lall, who has been closely associated with the MMRCA deal while spearheading the campaign for Boeing in the deal.

Lall has earlier worked with American NASA and Raytheon.

In the recent past, there have been efforts by the Mukesh Ambani-headed RIL to position itself in the defence, internal security and aerospace solutions sector.

France's Dassault Aviation and Reliance Industries are planning to set up a facility to produce wings of Rafale combat aircraft selected by IAF for meeting its requirement of 126 fighter planes. The two firms are planning to set up a Rs 1,000-crore facility for producing the wings of the Rafale combat aircraft and it is most likely to come up in Bangalore, industry sources told PTI in New Delhi.

Read more at: http://www.firstpost.com/business/reliance-dassault-may-join-hands-to-make-wings-for-rafale-fighter-jets-1279705.html?utm_source=ref_article

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