The Anil Ambani Group-company Reliance Defence would be entering into a tie-up with United Shipbuilding Company (USC) of Russia for building four Frigates for the Indian Navy. The large defence order is expected to cost around ₹30,000 crore.
The joint venture between the companies is likely to be announced on Thursday, which will coincide with Prime Minister Narendra Modi’s visit to Russia. The four Talwar class frigates would be built at Pipavav Shipyard, Gujarat, which was recently acquired by Reliance Defence.
Company sources said that the agreement between the two companies also includes a partnership for refit and modernisation of all Indian Navy ships of Russian and Soviet-vintage at the Pipavav Shipyard. Sources added that currently there are 35 such ships in the Indian Navy.