Surgical alliance; ADAG's Reliance Infra partners with Dassault

Anil Ambani controlled Reliance Infrastructure entered into a strategic partnership with Dassault Aviation in the aerospace sector in the country. This new joint venture will be called “Dassault Reliance Aerospace”.

The proposed strategic partnership between Dassault and Reliance will also focus on promoting research and development projects under the IDDM program (Indigenously Designed, Developed and Manufactured), a new initiative of Government of India.

The “Dassault Reliance Aerospace” joint venture will be a key player in the execution of offset obligations, as a part of the 36 Rafale fighter jets purchase agreement at a value of EURO 7.87 billion, or about Rs 59000 crore signed between France and India on September 23, 2016. The agreement includes a 50 per cent offset obligation which is the largest ever offset contract in the history of India.

In a statement issued for media, Anil Ambani, Chairman, ADAG Group said, ‘We are delighted to partner a world leader in aviation like Dassault Aviation, and a visionary leader like Eric Trappier. This is a transformational moment for the Indian aerospace sector and for Reliance Infrastructure’s subsidiary Reliance Aerospace’.

Shares of Reliance Infra soared more than 6 per cent in trade on the back of these developments to trade at Rs 582.